Ripple CEO Brad Garlinghouse has outlined a bold 100-day plan for SEC reforms to provide greater clarity on cryptocurrency regulation.
Removing SEC Chairman Gary Gensler
Garlinghouse has suggested removing current SEC Chairman Gary Gensler, expressing dissatisfaction with SEC's enforcement actions and opaque guidance in the crypto space. He mentioned potential successors such as former officials Christopher Giancarlo, Brian Brooks, and Daniel Gallagher.
Ripple’s Ongoing Legal Battle with the SEC
Ripple is engaged in a legal battle with the SEC since December 2022, which accuses XRP of being an unregistered security. Despite a partial ruling in July 2023 in favor of Ripple, the regulatory question remains unresolved.
Promoting Bipartisan Efforts for Digital Asset Legislation
Garlinghouse has called for increased bipartisan collaboration in crafting cryptocurrency legislation, involving both Republicans and Democrats. He also emphasized the need for regulatory clarity on digital assets like Ethereum.
Garlinghouse’s statements reflect a widely held view among crypto leaders about the need for reforms in the SEC's approach to ensure a clearer and more innovation-friendly environment in the U.S.
