- Ripple CEO Brad Garlinghouse reiterates his optimistic view of the Bitcoin ETF, considering it a big deal.
- Garlinghouse criticizes the SEC and Gary Gensler for the prevailing regulatory challenges in the United States.
- Responding to Jamie Dimon’s skepticism towards Bitcoin ETFs, Garlinghouse reiterates the significance of recognizing their value.
In a recent interview, Ripple CEO Brad Garlinghouse reiterated his optimistic views on the Bitcoin ETF launch, claiming that Bitcoin got institutional validation. Despite appreciating the Securities and Exchange Commission’s (SEC) landmark decision in ETF, Garlingouse condemned the lack of regulatory clarity in the United States.
Ripple’s CEO shared his disappointment with the regulatory policies of SEC Chair Gary Gensler, pointing out the prevailing regulatory uncertainties in the nation. Recently, he criticized Gensler, calling him a “political liability” and asserting the need for a new chair. Adding to his recent allegations against the SEC Chair, Garlinghouse shared an X post, elaborating on his frustrations regarding the current regulatory environment.
Garlinghouse commented that the SEC Chair prioritizes litigation over regulatory clarity. He highlighted the significance of implementing more comprehensive rules, considering the community’s interest in crypto.
In addition, Garlinghouse shed light on the importance of principles like Know Your Customer (KYC) and Anti-Money Laundering (AML). Contrasting America’s current situation with other countries that enjoy more regulatory security, Garlinghouse stated,
In the US, crypto is spending more time in the judicial process to get clarity while the other biggest financial centers in the world are actively codifying rules. Most players in this industry WANT to follow the rules, but you’ll never hear Chair Gensler acknowledge that.
Moreover, Garlinhouse responded to JPMorgan CEO Jamie Dimon’s skepticism towards Bitcoin ETFs. While Dimon addressed ETFs as a “Pet Rock” with no utility and advised not to “get involved,” Garlinghouse highlighted the significance of recognizing their positive impact.
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