TechFlow News, October 24 — According to Cointelegraph, Ripple Labs CEO Brad Garlinghouse admitted during the Fintech Week event in Washington, D.C., that the company’s early failure to proactively communicate with U.S. regulators was a mistake. Garlinghouse said, “Looking back, I regret it. I think we made an error by not reaching out to regulators earlier. Now we’re working hard to make up for lost time.”
Garlinghouse criticized the United States for falling behind other countries in cryptocurrency regulation and accused SEC Chair Gary Gensler of imposing a “reign of terror” on the industry. He also claimed Senator Elizabeth Warren is spreading misinformation about cryptocurrencies. Regarding the future of the crypto sector, Garlinghouse emphasized the importance of education, saying there's a need to show regulators that “serious people are doing serious things.” He noted that the actions of FTX founder Sam Bankman-Fried harmed the entire industry, including Ripple.
