{"id":384096,"date":"2023-12-22T09:30:44","date_gmt":"2023-12-22T09:30:44","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=384096"},"modified":"2023-12-22T09:26:21","modified_gmt":"2023-12-22T09:26:21","slug":"ripple-ceo-slams-sec-chair-for-hypocrisy","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/ripple-ceo-slams-sec-chair-for-hypocrisy\/","title":{"rendered":"Ripple CEO slams SEC chair for &#8216;stunning hypocrisy&#8217;"},"content":{"rendered":"<p><a href=\"https:\/\/cryptoslate.com\/companies\/ripple\/\">Ripple<\/a> (<a href=\"https:\/\/cryptoslate.com\/coins\/xrp\/\">XRP<\/a>) CEO Brad Garlinhouse criticized the U.S. <span class=\"s4\"><span class=\"bumpedFont15\">Securities and Exchange Commission (SEC) chair <a href=\"https:\/\/cryptoslate.com\/people\/gary-gensler\/\">Gary Gensler's<\/a> &#8220;stunning hypocrisy&#8221; in a Dec. 22 <a href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1737977947514982881?s=46&t=aw6ZR-6aD050XLPVXY8AQA\">post<\/a> on social media platform X.<\/span><\/span><\/p>\n<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-rwdsb-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-rwdsb-1n7m0yu\">\n<div class=\"flex flex-col pb-9 text-sm\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-8\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col lg:w-[calc(100%-115px)] agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"d385a59d-d104-4d48-8234-ea1c4f51b969\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p>Garlinghouse's comments stem from Gensler's recent statements about widespread noncompliance in the crypto industry. The regulator emphasized the detrimental impact of these actions on individuals, often leading to bankruptcy without adequate recourse.<\/p>\n<p>Gensler <a href=\"https:\/\/twitter.com\/GaryGensler\/status\/1737935615033737332\">said<\/a>:<\/p>\n<blockquote><p>&#8220;There is a lot of noncompliance in the crypto space. It undermines confidence when so many people have been hurt and all they can do is stand in line in the bankruptcy court. Further, this can make it hard for the good faith actors to compete.&#8221;<\/p><\/blockquote>\n<p>In response, Garlinghouse accused Gensler of being hypocritical, pointing out that the SEC chief &#8220;cozied up to the biggest fraud in recent memory.&#8221;<\/p>\n<p>He also furthered\u00a0that Gensler's actions have harmed consumers and eroded the SEC's integrity while maintaining close ties with Wall Street.<\/p>\n<p>Meanwhile, this isn't the first instance of Garlinghouse's critique of Gensler. In earlier <a href=\"https:\/\/cryptoslate.com\/ripple-ceo-says-sec-chair-gensler-behaves-like-an-autocrat\/\">remarks<\/a>, he likened Gensler's approach to that of an autocrat and urged Congress to take note of his conduct.<\/p>\n<h2>Gensler's crypto stance<\/h2>\n<p>However, Chair Gensler has consistently defended his stance that the current securities laws are sufficient for the crypto industry, a position reflected in the SEC's rejection of Coinbase's request for new regulations.<\/p>\n<p>Under Gensler, the Commission has filed several <a href=\"https:\/\/cryptoslate.com\/binance-says-that-doj-settlement-lacks-relevance-in-sec-case-as-it-moves-for-dismissal\/\">legal actions<\/a> against major crypto firms like <a href=\"https:\/\/cryptoslate.com\/companies\/coinbase\/\">Coinbase<\/a> and <a href=\"https:\/\/cryptoslate.com\/companies\/binance\/\">Binance<\/a>, alleging that their operations violated securities law. Additionally, the regulator has labeled several large-cap cryptocurrencies, like <a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">Solana<\/a>, <a href=\"https:\/\/cryptoslate.com\/coins\/cardano\/\">Cardano<\/a>, and <a href=\"https:\/\/cryptoslate.com\/coins\/polygon\/\">Polygon<\/a>, as crypto securities tokens in many of its legal actions.<\/p>\n<h2>Community members lampoon SEC<\/h2>\n<p>Expressing solidarity with Garlinghouse's sentiments, the broader crypto community has deemed Gensler a primary adversary of the emerging industry.<\/p>\n<p>Gensler\u2019s strict regulatory approach towards the crypto industry has drawn criticism from stakeholders who have\u00a0<a href=\"https:\/\/cryptoslate.com\/coincenter-other-advocacy-groups-condemn-cansee-bill-for-overreach-on-defi\/\">highlighted<\/a>\u00a0how the SEC was stretching decades-old securities laws to emerging crypto finance models like decentralized autonomous organizations (DAOs) and decentralized finance (DeFi) protocols.<\/p>\n<p>Notably, figures like <a href=\"https:\/\/cryptoslate.com\/coins\/dogecoin\/\">Dogecoin<\/a> founder Billy Markus have <a href=\"https:\/\/twitter.com\/BillyM2k\/status\/1737955863007269304?s=20\">echoed<\/a> these concerns, highlighting the absence of clear rules for the emerging sector.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ripple (XRP) CEO Brad Garlinhouse criticized the U.S. Securities and Exchange Commission (SEC) chair Gary Gensler&#8217;s &#8220;stunning hypocrisy&#8221; in a Dec. 22 post on social media platform X. Garlinghouse&#8217;s comments stem from Gensler&#8217;s recent statements about widespread noncompliance in the crypto industry. The regulator emphasized the detrimental impact of these actions on individuals, often leading [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":384098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60793,11],"tags":[76973,74979,74981,72399],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ripple CEO slams SEC chair for &#039;stunning hypocrisy&#039;<\/title>\n<meta name=\"description\" content=\"Ripple CEO Brad Garlinghouse confronts SEC chair Gary Gensler &quot;stunning hypocrisy&quot; about cryptocurrency regulations.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/ripple-ceo-slams-sec-chair-for-hypocrisy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple CEO slams SEC chair for &#039;stunning hypocrisy&#039;\" \/>\n<meta property=\"og:description\" content=\"Ripple CEO Brad Garlinghouse confronts SEC chair Gary Gensler &quot;stunning hypocrisy&quot; about cryptocurrency regulations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/ripple-ceo-slams-sec-chair-for-hypocrisy\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-22T09:30:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-22T09:26:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/brad-garlinghouse-sec.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/ripple-ceo-slams-sec-chair-for-hypocrisy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/ripple-ceo-slams-sec-chair-for-hypocrisy\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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