Ripple CEO Brad Garlinghouse strongly criticized former United States Securities and Exchange Commission (SEC) Chair Jay Clayton’s remarks regarding the agency’s regulatory approach. Since the first quarter of 2023, the SEC has initiated various regulatory actions against crypto exchanges and companies.
During an interview with CNBC on June 29, 2023, Clayton expressed his view that the SEC should pursue legal action against specific companies only when they have strong legal grounds. He emphasized that regulatory agencies should introduce regulations and legal cases they believe will successfully withstand judicial scrutiny.