Ripple CEO criticizes SEC Chairman's regulatory approach, stating that his frequent legal interventions have "political responsibility"

Ripple CEO Brad Garlinghouse criticizes SEC Chairman Gary Gensler's regulatory approach, stating that his frequent legal interventions bring political responsibility to the market.

Garlinghouse said that after the approval of a Bitcoin spot ETF, Ethereum quickly rose, demonstrating market interest in more diversified ETF products.

He expressed hope that other cryptocurrencies would not have to go through the same regulatory obstacles and expressed optimism about simplifying the future approval process for digital asset ETFs.

In addition, the Ripple CEO described Gensler's approach as too rigid, even if regulatory agencies approve a Bitcoin spot ETF. He accused him of not acting in "the best interests of citizens" and suppressing "long-term growth" of the US economy.