Crypto CZAR criticizes the harsh SEC approach amid a continuous lawsuit, and calls for clearer rules
The ongoing legal battle between Ripple Labs, the US Securities and Stock Exchange Committee (SEC) has now spread over four years, which led to sharp criticism of the CEO of Ripple, Brad Garlinghouse, and other encryption leaders. As the case continues, Garinghouse and major figures such as lawyer Deaton have called for more and more clear and more consistent regulations than American legislators and organizers, especially SEC.
Garinghouse was explicit in criticizing the president of Sec Gary Gensler, claiming that the lack of the agency into clear rules created an unexpected environment for encryption companies. He, along with other industry figures, has expressed his frustration with what they see as unfair enforcement and the failure of the Supreme Education Council in providing clear guidelines on encryption operations.
However, the main transformations seem to be underway after a change in the political leadership in the United States after President Donald Trump was elected, and many have expressed the encryption space that the organizational scene may begin to become more appropriate. In a recent development, David Sachs, the newly appointed Caesar encryption, commented on this issue, and revealed that many of the founders have emphasized him with the need for clear rules from Washington.
During his statements, the bags explained that many in the encryption space were desperate for organizational clarity. “During the past few years, the founders have repeatedly told me that the first thing they need is clarity,” he said. “They only want to know the rules of the road so that they can comply with them.” But instead, he said that the industry faced four years of arbitrary claim, as SEC did not tell the founders the rules, yet they did not face legal action.
As the Ripple case continues to be disclosed, many hope that the government will take the steps necessary to provide the clear instructions required by the industry.
