The CEO of San Francisco-based giant payment network company Ripple said that 2021 was a tough but strong year for the Ripple company and him.
The United States Securities and Exchange Commission ( SEC) filed a lawsuit against the Ripple company in December 2020, now it is more than 1 year but still, the lawsuit is going on. In some situations, the Ripple firm strongly presented the company against the allegations and in some situations, the SEC agency showed a better stand with facts.
Recently, Brad Garlinghouse, CEO of Ripple firm, shared his thoughts on the ongoing lawsuit of the SEC agency. On Twitter, Brad shared his tension and hurdles that they faced because of the SEC agency.
According to Ripple CEO, the company grabbed better success even under high-pressure situations.
Brad noted that ODL surged by 25% over the Q3 of 2020 and in the same time frame, transactions surged by around 25 times.
Further, he added about the contribution of Ripple company in CBDCs adoption for Bhutan and Palau.
After reminding the success of Ripple in the crypto and Blockchain industry, Ripple’s CEO targeted the SEC agency. According to him, the SEC agency doesn’t want to answer the questions on the legality of Ethereum.
Ripple CEO also pointed out the statement of SEC chair Gary Gensler on crypto, who described crypto as the wild west. On this, Ripple CEO said that industry should not be published for the question of regulation clarity.
Further, Brad wrote that we need to approach the newly elected Congress so that they can understand that we need a better act and laws.
“This holiday season – let’s take the time to reach out to our elected officials in Congress so they understand the need to act now. I hope the industry gets some answers instead of another lump of coal.”