Ripple CEO Brad Garlinghouse called SEC Chair Gary Gensler a “political liability” whose actions destroyed the agency’s integrity.
Crypto community members were quick to clap back at United States Securities and Exchange Chair Gary Gensler for his latest jab at the space’s compliance.
On Dec. 22, Gensler shared a post on X (Twitter) asserting that there’s a lot of noncompliance in crypto. The SEC official said this “undermines confidence” in the space and implied that this leaves victims helpless. Gensler underscored that people who have been affected by the recent crypto bankruptcies can only “stand in line” in the courts.
The community instantly responded to the SEC chair’s sentiments, highlighting that the SEC has been constantly asked to clarify what compliance means. Using the social platform’s Community Notes feature that allows users to fact-check posts on X, the community shared that the SEC has not shared a clear stance. The note also pointed out that companies like Coinbase have tried to get regulatory clarity from the SEC in the last few years.
