Ripple CEO Brad Garlinghouse Criticizes SEC's Gary Gensler at a Crucial Crypto Roundtable

Ripple’s CEO, Brad Garlinghouse, recently took a strong stance at a crucial crypto roundtable. Ro Khanna the Democratic Congressman held a meeting

Ripple’s CEO, Brad Garlinghouse, took a strong stance at a crucial crypto roundtable. Held by Democratic Congressman Ro Khanna on Wednesday, the meeting aimed to discuss the future of cryptocurrency regulations in the U.S.

Among those in attendance were Mark Cuban, Paul Grewal from Coinbase, and Dante Disparte from Circle. Key political leaders included Senator Kirsten Gillibrand and Congressman Joe Neguse.

Garlinghouse used the opportunity to criticize SEC Chairman Gary Gensler, saying that it was “unfortunate” that most Dems still supported Gensler's “unlawful war on crypto.” Garlinghouse has previously slammed the SEC's approach, describing it as an “unlawful war on crypto.” He has also called Gensler a “Luddite,” a term used to describe those resistant to new technology.

Following the meeting, Congressman Khanna stated that it was a step towards creating robust regulations for crypto. However, despite Khanna's optimism, many crypto enthusiasts remain skeptical about the Democrats' willingness to fully embrace and support crypto.

Garlinghouse has repeatedly highlighted this resistance, which he believes has led the Republican Party to adopt a more pro-crypto stance. Notably, the upcoming U.S. elections could potentially see a change in administration, putting an end to Gensler's term and his approach of regulating through enforcement. Such a shift could create a more favorable environment for the crypto industry.

In a tweet following the meeting, the Ripple CEO praised Khanna's efforts, describing him as an exceptional leader for engaging with the crypto industry. The meeting brought together influential figures and political leaders, highlighting a step forward in crypto efforts, though skepticism remains regarding the Democrats' stance on crypto.

This roundtable comes at a crucial time not just for Ripple but for the whole crypto world. Ripple has been battling the SEC in a legal fight for almost four years now. Recently, Ripple filed a Notice of Supplementary Authority in its case, hoping to use the precedent set in the Binance ruling to influence the court's decision. However, the SEC has argued that there are no similarities between Ripple's case and the Binance case.

XRP supporters believe that the upcoming US elections can significantly impact crypto regulations. A crypto-supporting administration could lead to crypto-favorable policies, which might eventually help the whole crypto space.

Currently, XRP is trading at $0.44848. On the 4 hourly chart, the 100 moving average serves as a key resistance at $0.46, while the 20 and 50 moving averages support the price from below. XRP needs to break through the resistance and cross the $0.55 price to regain its rising channel. XRP fell from its rise in April after a sudden 32% drop.

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