Brad Garlinghouse, CEO of Ripple, has publicly criticized Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC). And yes, that was a harsh attack, to say the least.

Garlinghouse accuses the SEC of regulatory overreach under Gensler's leadership. He argues that the watchdog's approach has stifled innovation in the crypto sector. And as such, is an obstacle that prevents cryptocurrencies to make their way into the world of traditional finance.

The Ripple CEO's remarks followed a recent crypto roundtable. Attendees included Mark Cuban, Coinbase CLO Paul Grewal, and Circle CSO Dante Disparte.

Garlinghouse praised U.S. Congressman Ro Khanna for his leadership in the crypto industry. He sees the roundtable as a positive step towards action.

However, Garlinghouse expressed frustration with Democrat support for Gensler. "Unfortunately, the majority of Dems continue to enable Gensler's unlawful war on crypto," he stated on X (formerly Twitter).

The CEO believes this stance is hampering American innovation. He noted that the GOP has consequently adopted a pro-crypto position.

Garlinghouse didn't mince words about Gensler's legacy. "He will go down as the Luddite of his time," he predicted, quoting famous historical parallel. And that is a very harsh comment for Gensler to take.

Coinbase's Grewal emphasized the need for legislation over litigation. He highlighted the personal nature of crypto policies for many Americans.

Grewal pointed out that 52 million Americans have owned cryptocurrency. He argued that opposing their access to the financial system alienates these voters.

The Coinbase executive sees hope in the recent roundtable. He stressed the nonpartisan nature of the current momentum around crypto.