Ripple CEO, Brad Garlinghouse, has criticized the U.S. Securities and Exchange Commission (SEC) for its enforcement approach in regulating the crypto industry, stating that it has hindered growth and stifled innovation. He called for a new regulatory framework that considers the nuances of digital assets and highlighted a recent legal victory for digital asset manager, Grayscale, which criticized the SEC for being “arbitrary and capricious.” Garlinghouse urged the government to take a proactive approach to supervising the industry and called for the introduction of federal laws governing digital currencies. He emphasized that XRP should not be considered a security and suggested that federal laws could provide clarity and stability for the industry.
AI Sentiment: Neutral
