Ripple CEO Offers Perspective On Legal Fallout With The SEC

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	30,470,977,257	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

30,470,977,257

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0331	6.15%	0.5709	0.5706	0.5708

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0331

6.15%

0.5709

0.5706

0.5708

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.573	0.5326	0.538	0.5378	0.382490 - 0.852600

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.573

0.5326

0.538

0.5378

0.382490 - 0.852600

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:08:26	109.88	0.5714	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:08:26

109.88

0.5714

USD

Price x Volume	Volume	Base Symbol	Related Pairs
54,193,191.26	98,543,016.80	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

54,193,191.26

98,543,016.80

Ripple CEO Offers Perspective On Legal Fallout With The SEC

24/11/2023 3:00pm

NEWSBTC

Brad Garlinghouse, the CEO of Ripple, expressed his views on the aftermath of their legal battle with the US Securities and Exchange Commission (SEC). Ripple CEO Insights On The SEC’s Stand In The Legal Battle The Ripple CEO spoke about the case between the crypto company and the SEC in an interview at the 2023 DC Tech Week. Garlinghouse highlighted the SEC’s several setbacks since the case started. According to the CEO, “the SEC has lost on everything that matters” when he was asked if the case is “done and dusted.” He further highlighted that the case’s conclusion rests on the SEC’s decision to pursue an appeal or not. Related Reading: Ripple Introduces AMMs To XRPL, But Is This Good Or Bad For XRP Price Nonetheless, Garlinghouse asserted that whether or not the SEC files an appeal on the case, which seems over for the regulator. This is due to the SEC’s “losing about three times to the crypto firm.” In addition, the CEO also brought up the SEC’s losses in the Grayscale case. In a court ruling, a trial judge declared the agency was behaving “arbitrarily and capriciously” towards Grayscales’s Spot Bitcoin ETF application. Notably, this legal wording suggests intentional and unreasonable activities done carelessly, ignoring relevant circumstances, facts, and other parties’ rights. With this incident, Garlinghouse emphasized that the SEC should reevaluate its course toward cryptocurrency regulation. The CEO stated: I mean this is damning language from a federal judge to the SEC. At some point when you keep trying the same thing and having the same outcome, you need to change your approach. I hope the SEC’s change will be magical. Nonetheless, Garlinghouse noted that the SEC losses will be amplified if they decide to take the appeal process higher. Furthermore, Garlinghouse “reaffirmed” that Ripple stands prepared to pursue the matter further with the US Supreme Court should the situation demand it. Given that the Supreme Court has typically ruled against regulators, he firmly believes that the SEC would fail in the Supreme Court. Regulatory Framework For the Cryptocurrency Industry The Ripple CEO also spoke about the ambiguous regulatory framework for the cryptocurrency industry in the United States. According to Garlinghouse, other nations are increasing their market influence by implementing open rules and luring capital into the industry. On the other hand, the US continues to view cryptocurrencies with “skepticism.” Related Reading: Ripple CEO Declares Intent To Bring XRP Battle To Supreme Court Garlinghouse conveyed that the US lacks a conducive regulatory framework. This causes the United States to “forfeit” its prospective position as a leader in the cryptocurrency space. So far, the Ripple CEO believes the US will create a crypto-friendly legal environment in the next ten years. Feature image from iShock, chart by Tradingview.com

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