January Walker, a moderate U.S. politician representing the United Utah Party, has weighed in on recent rumors surrounding the Ripple case, arguing that a potential settlement will be a loss for the “whole world” and the entire Web3 ecosystem.
The former congressional candidate argues that the world tends to follow the actions of the U.S. This is why an unfavorable outcome in the case between Ripple and the SEC could have tremendous implications for the global crypto industry.
The businesswoman and cybersecurity professional urged the industry to remain united in the wake of regulatory uncertainty. “Instead of battling against each other claiming one group is better than another we need to work together for the right legislation,” she writes.
CEO Brad Garlinghouse and other Ripple executives have routinely bemoaned the alleged lack of regulatory clarity. Garlinghouse has repeatedly stressed that the U.S. SEC is the only regulatory watchdog in the world arguing that the XRP token is a security. At the same time, he praised regulatory clarity and progress in countries like the U.K., Japan, and Singapore.
The SEC sued Ripple nearly two years ago, alleging that the XRP token is actually an unregistered security.
As reported by U.Today, Input Output CEO Charles Hoskinson shared a rumor that the Ripple lawsuit would be settled on Dec. 15. The Cardano founder also concluded that the outcome could have “catastrophic” consequences for the industry.