The post Ripple CEO Brad Garlinghouse Backs Elon Musk’s Criticism Of US SEC appeared on BitcoinEthereumNews.com.

In a recent X post, Ripple CEO Brad Garlinghouse backed Elon Musk, as the Tesla CEO criticized the US SEC. This has sparked immense discussions in the market, especially after the SEC Chair Gary Gensler recently targeted Elon Musk. On the other hand, the prolonged legal battle between Ripple and the agency has also fueled discussions in the market amid pro-crypto regulatory anticipation in the US. Ripple CEO Brad Garlinghouse Backs Elon Musk Elon Musk’s criticism of the US SEC gained widespread attention when he called the agency a “political tool” used for “dirty work.” His remarks followed news of the US SEC Chair Gary Gensler sending a notice to his company Neuralink, sparking reactions from political figures and crypto advocates alike. Ripple CEO Brad Garlinghouse backed Musk by reposting his comment, signaling solidarity in their shared frustration with the agency. Ripple has long been entangled in a legal battle with the agency, with the XRP lawsuit challenging its native crypto’s status as a security becoming a flashpoint in the crypto regulation debate. Meanwhile, legal experts and politicians have joined the conversation. Cory Liu, an adjunct professor at the University of Texas School of Law, highlighted a recent court ruling against the SEC. The court declared the SEC had overstepped its authority by enforcing a Nasdaq policy requiring diversity quotas for corporate boards. Liu argued that the SEC should focus on ensuring fair markets, not enforcing identity-based quotas. Presidential candidate Vivek Ramaswamy criticized the SEC, suggesting repeated legal losses undermine its credibility. U.S. Senator Mike Lee echoed this sentiment, stating that the US SEC “cannot be trusted” as an independent body. Crypto Market Eyes Pro-Crypto Regulation Ripple CEO Brad Garlinghouse has also previously criticized the US SEC and its Chair Gary Gensler for their stance against the crypto market. The…

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Filed under: News - @ December 14, 2024 8:14 am