It's only a matter of time, the CEO of Ripple said on stage at Consensus 2024 in Austin.
Garlinghouse criticized the SEC's unclear crypto regulations, highlighting the need for better regulatory clarity in the U.S.Garlinghouse said that there will be a significant regulatory approval process before these are approved, but in the end these will be"speed bumps."" Gary Gensler has been called to Congress, and when asked if ether is a security, he won't answer the question. Yet, he insists that the rules are very clear and don't need updating," he said.
In 2022, the SEC kept confidential emails and notes from William Hinman's 2018 speech, which declared ether not a security. Ripple, sued by the SEC, obtained access to these redacted documents, revealing extensive internal SEC discussions about ether's status as a security. The U.S., the world's largest economy, represents, in Garlinghouse's opinion, the"bottom decile of regulatory clarity."
"Somehow, believes that the Orange Grove tests from 70-80 years ago provide clear rules for crypto," he said, referring to the."It makes no sense and is a travesty because the SEC's stance has become such a political liability, affecting even the presidential race." Garlinghouse also mentioned that last year 75% of Rippple's hiring was outside the U.S., and this year it's about 60%, with major offices in London, Geneva and Singapore.award-winningin a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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