.Ripple and SECGov remain locked in a tense legal standoff
, a recent Senate bill that wants to make the Commodity Futures Trading Commission the primary crypto regulator has attracted criticism from Gensler. The SEC believes that the legislation, which aims to defang his agency, will undermine wider crypto markets.that cryptocurrencies should not be allowed to flout existing securities laws just because they use different technology. He pointed to the fact that modern cars continue to use seatbelts despite advances in the industry.
Ripple’s general counsel has urged the agency not to swing its “billy club” and bring more regulatory clarity.
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