Cryptocurrency

Brad Garlinghouse Says Ripple Would Settle with U.S. SEC on One Condition

Brad Garlinghouse, the CEO of Ripple, has stated the condition that will make the cross-border payment firm settle its current lawsuit with the United States Securities and Exchange Commission (SEC).

According to Garlinghouse in a new interview with Fox Business, Ripple would consider settling the lawsuit with the SEC if the regulator clearly defines the regulatory status of the digital token XRP.

Read Also: Ripple’s Brad Garlinghouse Welcomes Brian Armstrong to the Party as SEC Threatens to Sue Coinbase

He further stated that the cryptocurrency industry is already notably regulated, negating the recent statement of the SEC Chair, Gary Gensler, who said the crypto ecosystem is a “Wild West.”

Brad Garlinghouse noted:

“To the extent we can find a constructive path forward with the SEC, we, of course, want to find that. There’s no scenario though that we’re going to settle unless there’s absolute certainty about what XRP is on a go-forward basis.

“And it’s very clear that how Ripple is using these technologies, how many scores of other people in the community are using these technologies. They’re not securities. They do not represent an ownership in Ripple the company…”

Read Also: Judge Permits Ripple to Depose SEC Official Who Classified Ethereum (ETH) As a Currency

“I think we lose sight of the fact that crypto is regulated. It’s regulated by the CFTC (Commodity Futures Trading Commission). It’s regulated by other government entities, whether its FinCEN (Financial Crimes Enforcement Network) and the U.S. Treasury.

So when I’ve heard the SEC people come forward and say, ‘Hey this is the Wild Wild West. It’s not regulated.’ Well that’s not entirely true… Previously, they (SEC) said Bitcoin’s not a security. ETH’s (Ethereum) not a security.”


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

Bank for International Settlements Makes ISO 20022 Adoption Claim For XRP and XLM

The integration of ISO 20022 as a global messaging standard for financial transactions is a…

26 minutes ago

Best Cryptos to Buy in November 2024: Learn More About Qubetics, Polkadot, and Avalanche

The crypto market is buzzing again, and November 2024 is shaping up to be one…

4 hours ago

XRP Price Spikes As SEC Chair Gensler Officially Announces Resignation Date

Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), has officially announced he…

4 hours ago

The Best Casino Games That You May Be Overlooking

Asking a bettor what their favorite casino games are will always result in one of…

5 hours ago

Biggest In Almost 3 Years: Something Big Is Coming For XRP

A prominent cryptocurrency market analyst, Armando Pantoja, has suggested that XRP might be on the…

5 hours ago

Explosive Crypto Bull Run 2024! Don’t Miss the Biggest Opportunity of the Decade!

As the new year dawns, the crypto world is buzzing with predictions of an epic…

6 hours ago