Chris Larsen Calls for Clear Crypto Regulations and Congressional Leadership to Revive the Industry.
Summary:
Ripple Labs chair Chris Larsen criticizes the US government's crypto policy and calls for clarity and regulatory leadership to revive the industry. He also highlights the adverse impact of Biden's policies on San Francisco's blockchain aspirations. Larsen urges Congress to take charge of crypto policy and emphasizes the need for clear rules.
The legal system in the United States is poised to revive the crypto industry following what Ripple Labs chair and co-founder Chris Larsen describes as a misstep in crypto policy by the Biden administration. In an interview with Bloomberg on September 7, Larsen expressed his belief that the US has made errors in regulating crypto and blockchain, and that the courts are now providing the opportunity for clarity and a resurgence in the industry. Larsen also commented on a recent court ruling in favor of Grayscale, which he saw as a rare instance of the SEC being rebuked. Larsen hopes that this marks the beginning of a change in the SEC's approach to crypto regulation and calls for Congress to take the lead on crypto policy. Additionally, Larsen criticized SEC chair Gary Gensler, suggesting that he prefers the lack of clarity in crypto laws so that he can interpret and enforce regulations as he pleases. Larsen argues for the importance of clear rules established by elected legislatures. In another part of the interview, Larsen claimed that Biden's crypto policies have hindered San Francisco's potential to become the blockchain capital of the world, unlike cities such as London, Singapore, and Dubai that have embraced clear rules and fostered innovation. Larsen contends that the US should be at the forefront of blockchain development and calls for a return to American leadership in the industry.
Published At
9/7/2023 4:25:44 AM
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