Chris Larsen, the chair and co-founder of Ripple Labs, believes that the United States legal system is working to correct the mistakes made by the Biden administration in their crypto policy. He cites a partial victory against the Securities and Exchange Commission (SEC) in July as evidence of the regulator’s shortcomings in regulating the industry.
Larsen criticizes SEC Chair Gary Gensler for the lack of clarity in crypto regulations. He argues that Gensler may prefer this ambiguity as it allows him to pursue individuals and establish rules through assertive tactics. Gensler has previously described the crypto Market as rife with fraud and Ponzi schemes, and believes that securities laws are necessary to address these issues.
The Ripple co-founder also criticizes Biden’s crypto policies for negatively impacting San Francisco’s reputation as the potential “Blockchain capital of the world.” Larsen attributes the city’s loss of this distinction to the administration’s decision to push the industry overseas. He cites London, Singapore, and Dubai as examples of global blockchain hubs with transparent regulations that protect consumers and foster innovation. Larsen calls for the US to reclaim its position as a leader in this space.
In conclusion, Chris Larsen believes that the United States legal system is working to rectify the missteps in crypto policy made by the Biden administration. He criticizes the lack of clarity in regulations and the impact of these policies on the country’s standing in the blockchain industry. Larsen calls for transparent regulations that protect consumers and foster innovation, and urges the US to reclaim its position as a leader in the space..
#Ripples #CoFounder #Bash #Joe #Biden #Gary #Gensler
Larsen criticizes SEC Chair Gary Gensler for the lack of clarity in crypto regulations. He argues that Gensler may prefer this ambiguity as it allows him to pursue individuals and establish rules through assertive tactics. Gensler has previously described the crypto Market as rife with fraud and Ponzi schemes, and believes that securities laws are necessary to address these issues.
The Ripple co-founder also criticizes Biden’s crypto policies for negatively impacting San Francisco’s reputation as the potential “Blockchain capital of the world.” Larsen attributes the city’s loss of this distinction to the administration’s decision to push the industry overseas. He cites London, Singapore, and Dubai as examples of global blockchain hubs with transparent regulations that protect consumers and foster innovation. Larsen calls for the US to reclaim its position as a leader in this space.
In conclusion, Chris Larsen believes that the United States legal system is working to rectify the missteps in crypto policy made by the Biden administration. He criticizes the lack of clarity in regulations and the impact of these policies on the country’s standing in the blockchain industry. Larsen calls for transparent regulations that protect consumers and foster innovation, and urges the US to reclaim its position as a leader in the space..
#Ripples #CoFounder #Bash #Joe #Biden #Gary #Gensler
