Ripple’s Co-Founder Slams SEC’s Crypto Policy, Courts Rejecting Enforcement

Summary:

• Ripple’s co-founder, Chris Larsen, believes that the U.S. Securities and Exchange Commission’s (SEC) crypto policy is being rejected by the courts.
• Larsen’s comments come after the SEC lost court cases against Grayscale and Ripple Labs.
• He suggested that the U.S. legal team should take control of crypto policy, as the courts have been dismissing the SEC’s efforts.
• Larsen also criticized the U.S. government’s hostile and strict crypto policies, which he believes have hindered blockchain development in the country.
• He expressed regret that progress in the crypto industry has come through litigation rather than active regulation.
• Larsen also criticized Senator Elizabeth Warren’s position on crypto, accusing her of building an anti-crypto army.

Ted’s Take:

Looks like the SEC is losing its grip on crypto regulation, and Ripple’s co-founder, Chris Larsen, couldn’t be more thrilled! He believes that the courts are rejecting the SEC’s crypto policy and that it’s time for Congress to step in. But while Larsen celebrates these victories, he also points out that the U.S. government’s strict crypto regulations have pushed blockchain development outside of the country. Maybe they should take a lesson from Singapore, Dubai, and London, the current “Blockchain Capitals of the World.” Larsen also took the opportunity to criticize the SEC’s enforcement-based approach and Senator Elizabeth Warren’s anti-crypto stance. Who knew the crypto world could get so feisty? So, will Congress finally take charge and lead the way in shaping crypto policy? Only time will tell, but for now, let’s enjoy the battles between crypto firms and the SEC. Grab your popcorn, folks, because it’s getting interesting!

Original Article: https://techreport.com/?p=3517179