Ripple CEO believes SEC is “looking to kill” the crypto sector
Brad Garlinghouse shared his opinion on the current position of the Ripple firm in the XRP lawsuit & also explained how the SEC body is killing crypto players.
Ripple is a US-based crypto firm, known for its global payment service at low cost & highly efficient speed over other traditional cross-border payment services. In Dec 2020, the United States Securities Exchange Commission (SEC) sued Ripple Labs & its executives over the sale of $1.3 billion worth of unregistered XRP coins in public. At present, the case is very near the end.
On 17 June 2023, Ripple CEO Brad Garlinghouse posted a video on the XRP Lawsuit and confirmed that the Ripple vs SEC legal fight will resolve soon.
Garlinghouse said that the Ripple vs SEC case timeline & several turns showed that the American regulatory body did politics & misused power against targeted crypto players.
“This is the definition of putting politics over people (…) and the pursuit of power over sound policy,” Ripple CEO said.
Furthermore, Garlinghouse asserted that the SEC body was already aware of the XRP coin’s nature that it was always a crypto security token.
According to Ripple’s CEO, the SEC agency is looking to kill the digital innovations in America, as it has initiated back-to-back several suits against crypto players over the years.
On the Hinman document, Garlinghouse said that Hinman’s document was not about any particular crypto token, instead, that was for the whole crypto sector.
“This is about showing the extent to which the SEC has relentlessly enforced action against crypto players, while professing fake open arms and calls to come in and register, all the while lying about their so-called guidance,” Garlinghouse said.
Garlinghouse also belives that the crypto sector will still struggle badly in the US, even after the end of XRP lawsuit, as laws will still remain unclear for this innovative sector.
Just a couple of days ago, the former Regional Director of the SEC’s San Francisco Regional Office Marc Fagel also confirmed that the case’s resolution will come within a few days but also said that he may be wrong if there is any hidden agenda.
XRP coin price action
The current trade price of the XRP coin is $0.4911 & this trade price is 2.52% is more than the last 24 hours’ trade price.
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