Ripple executives criticize SEC Christmas remarks
Ripple, the blockchain company from San Francisco, had their Chief Technology Officer David Schwartz directly take a jab at the U.S. Securities and Exchange Commission (SEC) on social media, saying: "Merry Christmas to those who oppose excessive regulation!"
Ripple has been at the forefront of the ongoing battle with the SEC.
The SEC's controversial strict regulatory measures have left industry leaders quite unhappy.
Ripple's head Brad Garlinghouse even called SEC Chair Gary Gensler a "stubborn old man."
Last month, Schwartz also harshly criticized the "Chokepoint 2.0," stating that it aimed to cut off the banking routes for cryptocurrency companies.
He feels that regulators should stop with the roundabout regulations; pressuring banks to cut off funding is too easy. If the government truly wants to ban a certain business, they need to "legislate properly."
Previously, Schwartz also complained about the SEC, saying their regulations on cryptocurrency are vague and unclear.
"The SEC itself cannot even articulate what the rules are; even if they say something, you have to follow it." This was in response to the SEC suing Coinbase.
However, Ripple and the entire cryptocurrency community recently breathed a sigh of relief. It is rumored that Gensler is about to step down, leaving in less than a month, and he will be replaced by Paul Atkins, who supports cryptocurrency freedom.
Additionally, two anti-cryptocurrency individuals, Caroline Crenshaw and Jaime Lizárraga, are also leaving the SEC.
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