DAVOS - Ripple CEO Brad Garlinghouse expressed concerns at the World Economic Forum about the U.S. Securities and Exchange Commission's (SEC) approach to cryptocurrency regulation. Garlinghouse criticized SEC Chair Gary Gensler's stringent policies, suggesting they may be politically driven and could hinder economic growth.
The Ripple executive emphasized the need for the U.S. to remain competitive in the global market, especially in light of potential regulatory advancements, such as stablecoin legislation. He pointed out that the SEC's selective approval of a Bitcoin exchange-traded fund (ETF) has had implications for the value of Ethereum and the wider crypto market.
Furthermore, Garlinghouse shed light on Ripple's strategic focus, which includes expanding its payment solutions and ensuring financial stability for future acquisitions. However, he also indicated that the company is treading carefully with regards to a potential initial public offering (IPO), given the current regulatory environment and the SEC's approach to cryptocurrency-related offerings.
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