According to CEO Brad Garlinghouse, Ripple achieved the “strongest ever year” despite the U.S Securities and Exchange Commission’s (SEC) lawsuit over XRP. He said that calling crypto the “Wild West” is absurd and stressed that most people are following financial regulators worldwide.
Ripple has the best year despite SEC’s lawsuit over XRP
Brad Garlinghouse, CEO of Ripple, spoke about the company’s achievements and regulation of cryptocurrency in a series tweets on Wednesday. He said that Ripple had its “strongest year” despite the lawsuit regarding XRP.
A year ago, the U.S. Securities and Exchange Commission filed a lawsuit against Chris Larsen, Ripple Labs and his co-founder Chris Larsen. According to the securities watchdog, XRP should not have been registered as a security.
Garlinghouse explained that while insisting that the lawsuit by the SEC against XRP is an attack on crypto in America, not just Ripple, Garlinghouse said:
2021 was a landmark year for crypto. It has been a watershed year for crypto. The opportunity to bring billions into the global financial system was never more widely accepted and understood. It has been amazing to see less’maximalism’ and more builders join the industry.
He then went on to describe Ripple’s achievements over the past year, including its new On-Demand Liquidity corridors (ODL) and central bank digital currency solution (CBDC). He stated that all of the growth was due to outsiders.
Garlinghouse noted that SEC Chairman Gary Gensler had “taken an aggressively anticrypto approach” and that companies were already moving out of the US. He added that the SEC “today won’t answer any questions about the legal status ETH or anything else.”
It is absurd to call crypto the “Wild West” – most of them are complying with global financial regulators. The industry should not be punished for seeking regulatory clarity and regulation that is consistent with a level playing ground.
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Kevin, a student of Austrian Economics and a evangelist since then. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.
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