Ripple Co-Founder Blasts ‘Unelected, Power-Hungry and Misplaced’ SEC Bureaucrats, Says Clear Crypto Rules Needed

Ripple co-founder Chris Larsen is weighing in on how the U.S. Securities and Exchange Commission (SEC) is handling the crypto space.

In a new interview with Bloomberg Technology, Larsen says the SEC’s recent legal defeats confirm the United States is taking the wrong approach to crypto regulation.

Most recently, a federal judge ruled that the SEC has to reconsider Grayscale’s application to convert the Grayscale Bitcoin Trust into an exchange-traded fund (ETF).

Says Larsen,

“You saw in the latest challenge on the Bitcoin ETF, again SEC lost. But not only that, the judge really admonished the SEC, really called them out in a way that you don’t see very often. I think it’s just more proof of Gary Gensler’s decision of sort of engaging in

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