CEO of Ripple Blasts The SEC On Anniversary of XRP Lawsuit
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December 22, 2021 5:44 pm
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As some of you already know December 22, 2020 was the date that the SEC v. Ripple case was filed.
Well now, flash forward one roller coaster year later and it undoubtedly looks like Ripple will snag a win on the fair notice defense.
To acknowledge the one year anniversary of the lawsuit, CEO of Ripple Brad Garlinghouse tweeted out a thread of tweets that started off by blasting the SEC for claiming that XRP should have registered as a security.
Garlinghouse also called out the SEC’s hypocrisy and stated that “the SEC today won’t answer questions about the legal status of ETH, much less anything else. Is the agency actually living up to its mission of protecting investors”.
One year ago today, the @SECgov filed a lawsuit against @Ripple, @chrislarsenSF and me, alleging that XRP – a public crypto that has been trading on the open market since 2013 – should have been registered as a security. 1/10
— Brad Garlinghouse (@bgarlinghouse) December 22, 2021
Garlinghouse also called out Chairman of the SEC Garry Gensler for being anti-crypto.
Take a look:
Ignoring its prior statements, the SEC today won’t answer questions about the legal status of ETH, much less anything else. Is the agency actually living up to its mission of protecting investors w/ regulation by enforcement & what @HesterPeirce calls "strategic ambiguity"? 7/10
— Brad Garlinghouse (@bgarlinghouse) December 22, 2021
Financial Feeds had more on the story:
Brad Garlinghouse, Chief Executive Officer of Ripple, took to Twitter to share his thoughts on the first birthday of the lawsuit, pointing the finger at ex-SEC Chair Jay Clayton as the “battle is just beginning”.
“Today, the SEC voted to attack crypto. Chairman Jay Clayton – in his final act – is picking winners and trying to limit US innovation in the crypto industry to BTC and ETH.
“We know crypto and blockchain technologies aren’t going anywhere. Ripple has and will continue to use XRP because it is the best digital asset for payments – speed, cost, scalability and energy efficiency. It’s traded on 200+ exchanges globally and will continue to thrive.
“The SEC – out of step with other G20 countries & the rest of the US govt – should not be able to cherry-pick what innovation looks like (especially when their decision directly benefits China). Make no mistake, we are ready to fight and win – this battle is just beginning”.
To conclude his statement Garlinghouse called for everyone to reach out to their local Representative and Senators to improve the SEC’s stance regarding cryptocurrency.
This holiday season – let’s make the time to reach out to our elected officials in Congress so they understand the need to act now. I hope the industry gets some answers instead of another lump of coal. 10/10
— Brad Garlinghouse (@bgarlinghouse) December 22, 2021
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