Ripple Co-Founder Slams The SEC For Unclear Crypto Rules

Ripple's co-founder, Chris Larsen, has shared his worries about how the U.S. deals with cryptocurrency rules.

Larsen criticized the U.S. Securities and Exchange Commission (SEC) for their unclear rules. He said Congress should decide on crypto rule. He talked about this on the X social platform. A recent court decision said Ripple's cryptocurrency XRP was not a security. Larsen saw this as a big win. "The SEC did not succeed in their main goals for the crypto industry," he commented.

Larsen, from San Francisco, is sad that his city didn't become the top place for blockchain. He believes U.S. government policies pushed this chance away. Instead, cities like London and Dubai are now leading because of their clear rules. "If San Francisco was the main place for blockchain, we would have more business and less empty buildings," he said.

Larsen also talked about helping his city. He donated in XRP to San Francisco State and works with the city's Mayor through a group called Avenue Greenlight. This group gave about $3.7 million to help local businesses after tough times. "We need to do more for our city," Larsen mentioned, talking about improving public safety.