Ripple Co-Founder calls for Congress to play more active role in crypto regulation

Chris Larsen, one of the co-founders of Ripple, recently voiced his concerns about the United States’ approach to cryptocurrency regulation. He criticized the U.S. Securities and Exchange Commission (SEC) for what he termed a “policy of regulation by enforcement.” Larsen emphasized the need for Congress to play a more significant role in shaping cryptocurrency policies.

Expressing his hope for a change in the SEC’s approach, Larsen took to the X social media platform to share his thoughts.

His remarks come on the heels of a court ruling that determined XRP, a cryptocurrency associated with Ripple, was not a security when sold to the public. Larsen viewed this decision as a significant victory for the cryptocurrency industry.

Larsen, a resident of San Francisco, also lamented the missed opportunity for the city to become the “blockchain capital of the world.”

He attributed this missed chance to what he described as “hostile U.S. government policy.” He pointed out that cities like London, Singapore, and Dubai have embraced blockchain technology due to their supportive legislative frameworks.

Furthermore, Larsen highlighted the importance of civic engagement. He mentioned his contributions, including a donation of XRP cryptocurrency to San Francisco State and his collaboration with Mayor London Breed through the Avenue Greenlight Foundation.

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