Investing.com | Editor Ambhini Aishwarya
Published Nov 24, 2023 06:37AM ET
Ripple CEO Brad Garlinghouse spoke at DC Tech Week today, expressing critical views on the U.S. Securities and Exchange Commission’s (SEC) recent legal actions against Ripple. He highlighted the SEC’s comprehensive losses in their ongoing litigation with Ripple and suggested that an appeal by the SEC could further complicate matters.
Garlinghouse was confident enough in Ripple’s position to suggest that the company is prepared to take the fight to the U.S. Supreme Court if necessary. He cited historical instances where regulators have been defeated in the country’s highest court, implying a strong precedent that could work in Ripple’s favor.
In his discussion, Garlinghouse drew parallels between Ripple’s legal challenges and those faced by Grayscale, where a judicial opinion criticized the SEC for its conduct, describing it as “arbitrarily and capriciously.” This criticism adds to a growing chorus of voices calling for a revamp of how the U.S. approaches cryptocurrency regulation.
The Ripple CEO also pointed out the stark contrast between America’s cautious approach to crypto policy and other nations’ ability to attract investment through clear and transparent regulations. He warned that the United States risks losing its potential dominance in the burgeoning crypto industry if it continues on its current regulatory path.
Despite these challenges, Garlinghouse remains optimistic about the future of cryptocurrency regulation in the U.S. He believes that within ten years, regulatory reforms could significantly foster the growth of cryptocurrency, benefiting the industry and positioning the United States as a leader in this space.
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Written By: Investing.com
