.bgarlinghouse has challenged GaryGensler's claim that current securities laws adequately regulate crypto
US lawmakers to address recent statements made by SEC Chair Gary Gensler, who implied that the existing securities laws are adequate for regulating the cryptocurrency market.
Garlinghouse's comments come in response to Gensler's belief that the SEC can determine which digital assets qualify as securities and that legislation is unnecessary. After a House Appropriations Committee hearing, the SEC head suggested that current securities laws encompass most of the activity occurring within the crypto markets. He added that while Congress could act to provide further clarification, he does not believe additional authorities are necessary.
The Ripple CEO contends that such decisions should be based on legislation, rather than the SEC Chair's personal viewpoint.
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