Ripple CEO Brad Garlinghouse Addresses Crypto Industry Following SEC Moves

It has been just revealed the fact that Ripple’s CEO, Brad Garlinghouse said that the crypto industry is thawing following SEC events. Check out the latest reports below.

In a recent interview with CNBC’s Dan Murphy, Ripple’s CEO Brad Garlinghouse stated that their recent legal wins against the US SEC could be indicative of a shift in the way the country views and regulates cryptocurrency.

Garlinghouse suggests that the SEC will soon need to alter their approach of using legal action to enforce regulations.

“The SEC, in my opinion, has lost sight of their mission to protect investors, and the question is, ‘Who are they protecting in this journey?’”

Brad Garlinghouse, the CEO of Ripple, believes that Ripple’s recent legal victories against the SEC have put the regulator in check, which is a positive development for the entire cryptocurrency industry.

He expressed hope that this will lead to a thawing of the permafrost in the United States and allow an amazing industry with immense potential to thrive in the world’s largest economy.

In August, the SEC dropped its aiding and abetting charges against Garlinghouse and Ripple co-founder Chris Larsen.

These charges were related to the SEC’s original lawsuit from 2020 which accused Ripple of issuing XRP, the native asset of the XRP ledger, as an unregistered security.

In July, the courts ruled that the company’s programmatic sales of XRP, which were automated and conducted on the open market, did not constitute securities offerings.

In other news, Ripple payments company, has announced a new partnership with Onafriq, a fintech firm that operates in 40 African markets.

The partnership aims to facilitate cross-border payments between 27 African countries and the United Kingdom, Australia, and the Gulf Cooperation Council (GCC), which represents six countries including the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait.

Onafriq will leverage Ripple’s crypto-enabled payments technology to launch payment corridors between these markets.