Ripple CEO Brad Garlinghouse spoke at the DC Fintech Week conference and discussed various aspects of Ripple’s legal battles with the SEC and the regulatory environment in the United States.
Key Takeaways
- Ripple CEO Brad Garlinghouse discusses ongoing regulatory challenges faced by Ripple and the cryptocurrency industry at the DC Fintech Week conference.
- Garlinghouse highlights that US banks are reluctant to collaborate with crypto-related firms due to government hostility towards the industry.
- He blames the Securities and Exchange Commission (SEC) for hindering crypto industry growth through its stringent approach and contrasts the US with nations like Japan, Switzerland, Australia, and the UK, which have clear regulatory frameworks.
- Despite challenges, Garlinghouse believes the US can still lead the global crypto space.
Ongoing Regulatory Challenges
Ripple CEO Brad Garlinghouse discusses regulatory hurdles faced by Ripple and the broader crypto industry during his appearance at the DC Fintech Week conference.
Ripple CEO in DC: Ripple Legal Bills Now Over $150M, Ripple Will Fight SEC Up to Supreme Court, Government Shouldn’t Pick Winners and Losers https://t.co/n72C4F4k7n
— 🇳🇱 MackAttackXRP® 🇳🇱 65K-XRP-Followers (@MackAttackXRP) November 9, 2023
Garlinghouse highlights US banks’ reluctance to engage with crypto-related firms, attributing it to government hostility towards the industry.
The SEC’s stringent approach towards crypto is identified as a significant obstacle by Garlinghouse, contrasting it with other nations’ supportive regulatory frameworks.
Supreme Court Readiness
Ripple is prepared to take the SEC lawsuit to the Supreme Court if necessary, with Garlinghouse expressing determination to see the case through.
Garlinghouse reveals that Ripple has spent over $150 million in legal expenses defending against the SEC, with the potential for additional expenses.
To Conclude
Brad Garlinghouse’s statements at the DC Fintech Week conference shed light on Ripple’s ongoing regulatory challenges, its legal battle with the SEC, and the broader regulatory landscape in the United States.
His comments underscore the need for regulatory clarity and a level playing field in the cryptocurrency industry.
