Thursday, January 27, 2022

Ripple Achieves ‘Strongest Year Ever’ Despite SEC Lawsuit Over XRP, Says CEO – Regulation Bitcoin News

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Ripple has achieved the “strongest year ever” regardless of the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC), in response to CEO Brad Garlinghouse. “Calling crypto the ‘Wild West’ is a farce,” he mentioned, emphasizing that “most are complying with financial regulators globally.”

Ripple Has Best Year Despite SEC’s Lawsuit Over XRP

Ripple CEO Brad Garlinghouse talked about his firm’s achievement and cryptocurrency regulation in a sequence of tweets Wednesday. He defined that regardless of the lawsuit over XRP, Ripple had the “strongest year ever.”

The U.S. Securities and Exchange Commission (SEC) filed a lawsuit in opposition to him, Ripple Labs, and co-founder Chris Larsen a yr in the past. The securities watchdog alleged that XRP ought to have been registered as a safety.

While insisting that the SEC’s lawsuit in opposition to XRP “is an attack on crypto in the US, not just Ripple,” Garlinghouse detailed:

2021 has been a watershed yr for crypto. Acceptance and consciousness of the chance to carry billions of individuals into the worldwide monetary neighborhood has by no means been so clear. It’s been unbelievable to see rather a lot much less ‘maximalism’, and lots of extra builders becoming a member of the trade.

The CEO proceeded to stipulate Ripple’s progress over the yr, reminiscent of launching new On-Demand Liquidity (ODL) corridors and its central financial institution digital foreign money (CBDC) answer. “All of this growth came from outside the US,” he opined.

Garlinghouse then famous that SEC Chairman Gary Gensler “has taken an aggressively anti-crypto approach and companies are already moving outside the US.” He asserted that “the SEC today won’t answer questions about the legal status of ETH, much less anything else,” elaborating:

Calling crypto the ‘Wild West’ is a farce – most are complying with monetary regulators globally. This trade shouldn’t be punished for asking for regulatory readability & regulation that’s persistently utilized with a stage enjoying discipline.

What do you consider Garlinghouse’s feedback? Let us know within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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