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Ripple CEO Open to Settling with SEC, but Under One Condition

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Fri, 09/24/2021 - 20:14
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Alex Dovbnya
Ripple CEO Brad Garlinghouse wants to find a "constructive path forward" with the SEC
Ripple CEO Open to Settling with SEC, but Under One Condition
Cover image via ripple.com
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During his Sept. 24 interview with Fox Business, Ripple CEO Brad Garlinghouse said that Ripple will be willing to settle with the U.S. Securities and Exchange Commission if there is "absolute certainty" about XRP: 

To the extent we can find a constructive path forward with the SEC, we, of course, want to find that. There is no scenario though when we gonna to settle unless there is absolute certainty about what is XRP on the go-forward basis. 

Ripple is determined to educate the market and the judge about XRP's utility:  

We have a clear vision of how XRP can be an extremely powerful tool...There's a lot of other people in the crypto community and the XRP community doing amazing things with XRP.  

Garlinghouse stressed that the XRP Ledger is a decentralized open-source technology that pre-existed the creation of the company, comparing its native cryptocurrency to oil and gold.   

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 The SEC's ambiguous statements about Ether show the lack of regulatory clarity, according to Garlinghouse. He claims that the agency has backtracked on the cryptocurrency's securities status:     

I think there has been and continues to be a lack of clarity. 

Speaking of potential conflicts of interest, Garlinghouse said that the timing of the lawsuit was suspicious:      

I get this question a lot...The timing stinks. It's not a good look.  

Despite bemoaning the lack of clarity, the Ripple boss doesn't agree with the notion that crypto is like the "Wild West," claiming that the industry is already regulated: 

Crypto is regulated...The SEC might want more power over this. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.