Ripple CEO Addresses Victory Against The SEC

It’s been just revealed that the CEO of Ripple is addressing the victory against the SEC. Check out the latest reports about all this below.

He is celebrating a recent court decision to deny the U.S. SEC a motion seeking to strike the payment company’s fair notice defense.

As you probably know by now, in the ongoing lawsuit, the SEC alleged that the payments company unlawfully sold XRP as an unregistered security – this is a position the regulator maintains to this day.

In order to defend themselves, Ripple asserted that it lacked “fair notice that its conduct was in violation of law, in contravention of Ripple’s due process rights” from the SEC.

Garlinghouse says in a new interview on Bloomberg that the recent court decisionis a victory for the entire crypto industry.

“I think it is a victory not just for Ripple the company but also the whole crypto industry.”

He continue and said this:

“The SEC, I think, has consistently tried to really expand their reach and their control over the crypto industry. We’ve seen that not just with Ripple but in other cases.”

The Ripple CEO also said that providing regulatory clarity to the crypto industry is preferable to regulation by enforcement. He believes that this is an approach where lawsuits, for instance, are used to demonstrate the regulatory policy.

“If we want the US to be a leader in this new growing critical innovative industry, like the internet 20 years ago, we need that regulatory clarity.”

Garlinghouse also said that the SEC is really just coming out and saying ‘we are going to file lawsuits, enforcement.’

“They are not going to provide clear rules so that people know how to operate as other countries have done.”

Garlinghouse also made sure to explain that the SEC has harmed the crypto industry’s competitiveness in the world’s largest economy.