The CEO of Ripple Labs, Brad Garlinghouse, has criticized former SEC Chair Jay Clayton for his approach to digital currency regulation. In an interview, Clayton stated that the SEC should only pursue legal action against crypto companies if there are strong legal grounds. However, Garlinghouse argued that the lawsuit filed against him and Ripple had little chance of success in court. A judge ruled in favor of Ripple in July 2023, exonerating both executives. Garlinghouse expressed disappointment with the SEC’s lack of regulatory clarity and double standards. He also commented on Clayton’s role in filing the lawsuit before leaving office.

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