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Sunday, August 14, 2022

Ripple CEO Has Laid Into SEC For Contradictions On 2022 Crypto Regulations

Brad Garlinghouse, the current CEO of Ripple Labs, recently claimed that the SEC had inconsistently placed regulations on crypto firms throughout the country.

In an interview with the editor-in-chief of Wired at the Collision conference in Toronto on Thursday, the CEO went on to point toward the current legal battle that XRP was fighting against SEC. He drew attention to the fact that the federal regulator had seemingly alleged that the executives of the company had conducted unregistered, ongoing digital asset security offering with the token sales of XRP. Garlinghouse went on to reference the approval of the SEC on the public offerings of Coinbase in April 2021- even though the crypto exchange had listed XRP at that time. 

Ripple CEO Levels Complaints Against XRP

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The CEO of Ripple further elaborated that the SEC had somehow taken up the position when XRP was sued that XRP was security and had always been. But then they went on to approve Coinbase going public despite Coinbase never being a registered broker-dealer. There were some contradictions that the SEC was bringing with themselves- as they somehow forgot which hand was which. 

Along with Garlinghouse, Chris Larsen, the co-founder of Ripple, and David Schwartz, the chief technology officer of the firm, had also leveled their complaints against the US Regulators even before the SEC had officially filed a lawsuit against the firm back in December 2020. Larsen had suggested back in October 2020 that XRP could consider getting out of the United States, given the policy of many authorities to regulate through enforcement. Currently, XRP has its headquarters in San Francisco but also has offices in Wyoming and Dubai. 

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