Brad Garlinghouse: The Victory for Ripple and XRP Is a Victory for the Entire Crypto Industry

[solodeji]

Brad Garlinghouse, the CEO of Ripple has stated that a win for the cross-border payment firm in the ongoing lawsuit with the United States Securities and Exchange Commission (SEC), is a win for the entire crypto industry.

It can be recalled that the court recently denied the SEC a motion seeking to strike Ripple’s fair notice defense in the ongoing lawsuit where Ripple is accused of selling XRP unlawfully as an unregistered security, a position resolutely maintained by the U.S. regulator.

While defending itself, Ripple pointed out that it wasn’t granted fair notice that its activity with XRP was violating securities law of the United States, which contravenes its rights to due process.

In a recent interview on Bloomberg, Ripple CEO Brad Garlinghouse stated that the recent court decision to not strike Ripple’s fair notice defense is a victory for the whole crypto ecosystem.

According to Garlinghouse, providing regulatory clarity to the crypto industry is far better than enforcement, such as what the cross-border payment firm is currently experiencing.

Ripple CEO further stated that the SEC’s so-called regulatory actions have harmed the crypto industry’s competitiveness in the United States.

Brad Garlinghouse noted:

“I think it is a victory not just for Ripple the company but also the whole crypto industry. The SEC, I think, has consistently tried to really expand its reach and its control over the crypto industry. We’ve seen that not just with Ripple but in other cases…

 “If we want the US to be a leader in this new growing critical innovative industry, like the internet 20 years ago, we need that regulatory clarity. And the SEC is really just coming out and saying ‘we are going to file lawsuits, enforcement.’ They are not going to provide clear rules so that people know how to operate as other countries have done…

https://timestabloid.com/brad-garlinghouse-victory-for-ripple-and-xrp-is-a-victory-for-the-entire-crypto-industry/