{"id":151297,"date":"2023-09-07T10:25:38","date_gmt":"2023-09-07T04:55:38","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151297"},"modified":"2023-09-07T10:25:38","modified_gmt":"2023-09-07T04:55:38","slug":"ripple-labs-chair-slams-biden-gensler-for-having-screwed-up-on-crypto-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ripple-labs-chair-slams-biden-gensler-for-having-screwed-up-on-crypto-crypto-news\/","title":{"rendered":"Ripple Labs chair slams Biden, Gensler for having \u2018screwed up\u2019 on crypto – Crypto News"},"content":{"rendered":"
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The United States\u2019 legal system is set to bring the crypto industry \u201cback in the game\u201d after the Biden administration \u201cscrewed up\u201d its crypto policy, says Ripple Labs chair and co-founder Chris Larsen.<\/p>\n

Speaking to Bloomberg on Sep. 7 about his firm\u2019s July partial win<\/a> against the Securities and Exchange Commission, Larsen argued<\/a> the regulator lost on \u201ceverything that was important to [it] and important in the regulation of the industry.\u201d<\/p>\n

\u201cThe U.S. screwed up here on crypto and blockchain policy. This is the beginning now through the courts, unfortunately instead of through regulators, to get that clarity and get us back in the game.\u201d<\/p><\/blockquote>\n

Larsen also commented on the latest court judgment in favor of Grayscale<\/a> over its application to convert its Bitcoin (BTC<\/a>) trust into a spot Bitcoin ETF, noting it \u201creally admonished the SEC […] in a way that you don’t really see very often.\u201d<\/p>\n

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I sincerely hope we\u2019re seeing the beginning of the end of the SEC\u2019s policy of regulation by enforcement. The Courts are rejecting it, and now it\u2019s time for Congress to take the lead on crypto policy.<\/p>\n

Thanks @EdLudlow<\/a> @technology<\/a> for the chat! https:\/\/t.co\/3gZOR4lq5J<\/a><\/p>\n

\u2014 Chris Larsen (@chrislarsensf) September 6, 2023<\/a><\/p><\/blockquote>\n

Larsen argued the ruling was proof that SEC chair Gary Gensler<\/a> knows crypto laws aren\u2019t clear and simply likes the lack of clarity so \u201che can go after anybody and make up the rules as he goes along through bullying.\u201d<\/p>\n

\u201cThat’s not the American way. We should have clear rules from the legislatures, not through these unelected, power-hungry and really misplaced decision-makers that you see in Gary Gensler.\u201d<\/p><\/blockquote>\n

Gensler has however\u00a0previously claimed<\/a> that the crypto market is full of \u201cfraudsters\u201d and \u201cPonzi schemes\u201d and that the SEC\u2019s securities laws would help to clean it up.<\/p>\n

Biden \u2018killed\u2019 San Fran blockchain hub<\/h3>\n

In another part of the interview, Larsen claimed Biden\u2019s crypto policies \u201cpretty much killed\u201d San Francisco<\/a> from being the \u201cblockchain capital of the world\u201d despite Silicon Valley\u2019s tech hub reputation.<\/p>\n

Related: <\/em><\/strong>Grayscale asks SEC to meet on \u2018way forward\u2019 for Bitcoin ETF conversion<\/em><\/strong><\/a><\/p>\n

\u201cWe owned it and we don’t anymore because the Biden administration, for whatever reason, decided they wanted to push this industry offshore,\u201d Larsen added.<\/p>\n

\u201cThat was a missed opportunity. It’s really unfortunate. Hurt the city.\u201d<\/p><\/blockquote>\n

He pointed to London, Singapore and Dubai as global blockchain capitals for their \u201cclear rules that protect consumers and also celebrate innovation.\u201d<\/p>\n

\u201cWhy isn’t America leading that call?\u201d Larsen asked. \u201cThat’s what we’ve always been, and we’ve got to get back to it.\u201d<\/p>\n

Magazine: <\/em><\/strong>Opinion: GOP crypto maxis almost as bad as Dems\u2019 \u2018anti-crypto army\u2019<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The United States\u2019 legal system is set to bring the crypto industry \u201cback in the game\u201d after the Biden administration \u201cscrewed up\u201d its crypto policy, says Ripple Labs chair and co-founder Chris Larsen. Speaking to Bloomberg on Sep. 7 about his firm\u2019s July partial win against the Securities and Exchange Commission, Larsen argued the regulator […]<\/p>\n","protected":false},"author":2,"featured_media":151298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-151297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151297"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151297\/revisions"}],"predecessor-version":[{"id":151300,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151297\/revisions\/151300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151298"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}