U.S. court decisions against the SEC over its crypto jurisdiction are beginning to give the industry legal clarity despite that being the job of lawmakers, says Ripple Labs co-founder and chair Chris Larsen.
knows crypto laws aren’t clear and simply likes the lack of clarity so “he can go after anybody and make up the rules as he goes along through bullying.”
“That's not the American way. We should have clear rules from the legislatures, not through these unelected, power-hungry and really misplaced decision-makers that you see in Gary Gensler.”that the crypto market is full of “fraudsters” and “Ponzi schemes” and that the SEC’s securities laws would help to clean it up.
“We owned it and we don't anymore because the Biden administration, for whatever reason, decided they wanted to push this industry offshore,” Larsen added.He pointed to London, Singapore and Dubai as global blockchain capitals for their “clear rules that protect consumers and also celebrate innovation.”
“Why isn't America leading that call?” Larsen asked. “That's what we've always been, and we've got to get back to it.”
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