- Ripple CEO claims Gensler acted in an autocratic manner.
- XRP price surged over 25% in a week.
Brad Garlinghouse, CEO of Ripple, expressed his “disappointment” with Securities and Exchange Commission (SEC) Chairman Gary Gensler’s recent remarks about the crypto regulations. Earlier today, Garlinghouse urged American lawmakers to pay attention and consider legislation for the cryptocurrency industry on Twitter.
The SEC chair stated before the House Appropriations Committee hearing on Wednesday that the existing securities laws are sufficient to regulate cryptocurrencies and that no new laws are required.
While the “XRP community awaits Ripple’s wins against the SEC lawsuit,” Garlinghouse roasted the SEC chair in his recent tweets. According to Brad’s tweet, the SEC chairman asserts that he decides what qualifies as a security rather than relying on the laws from which his agency derives its authority. Also, he claimed that Gensler acted in an “autocratic manner.”
Following that, a pro-XRP attorney pointed out that Ripple executives’ constant criticism of the SEC demonstrates that the blockchain company has no intention of settling a Ripple Vs SEC case.
XRP’s Dominance in The Market
Recently, the XRP token has buzzed on social media with massive price surges. At the time of writing, XRP traded at $0.532, with a 24-hour trading volume of $2 billion and a market cap of $27 billion. XRP soared over 25% in a week and 44.5% in the last 14 days. But today, the price of XRP is facing ups and downs. Now XRP is declining by around 2%.
