RippleCEO warns against weaponizing encryption regulation calls for avoiding "the next Gary Gensler moment"

According to FoxBusiness, RippleCEO BradGarlinghouse said in an interview with MorningswithMaria that the division and law-enforcement supervision of U.S. regulators in encryption policies have created uncertainty for the development of the industry. He said the SEC and CFTC are pushing for new regulatory frameworks, and legislation such as the CLARITY Act discussed in Congress is expected to establish clearer rules for crypto assets. Garlinghouse warned that a regulatory environment similar to that of former SEC Chairman Gary Gensler should not arise again, emphasizing that Ripple's business is still growing amid current market volatility, calling for clear and predictable regulation to replace politicization and selective enforcement.