Insights from Ripple CEO Brad Garlinghouse on Legal Battle and XRP ETFs
In a recent Bloomberg TV interview, Ripple CEO Brad Garlinghouse provided insights into the ongoing legal battle with the U.S. Securities and Exchange Commission. He expressed Ripple’s welcoming approach toward the potential launch of XRP exchange-traded funds (ETFs). Here are the key highlights from the interview.
Addressing Ripple’s legal dispute with the US Securities and Exchange Commission, Garlinghouse highlighted the SEC’s shift towards “regulation through enforcement.” He emphasized that Ripple had consistently advocated for clearer rules and regulations in the crypto space. He expressed satisfaction with the court’s decision in the Ripple case, asserting, “The court determined that XRP is not in and of itself a security.”
Conformity of XRP ETFs
Ever since Bitcoin ETFs were not even approved, Ripple’s XRP community has eagerly anticipated the potential launch of XRP exchange-traded funds. In a previous interview, Garinghouse refused to comment on their launch citing that XRP ETFs were not the company’s primary concern at that moment. However, the view seems to have changed. Addressing the speculation surrounding XRP ETFs, Garlinghouse welcomed the possibility, drawing parallels to the evolving stock market in its early days. He expressed Ripple’s openness to multiple ETFs around different tokens, foreseeing a diverse range of ETFs and even baskets to mitigate risk.
Ripple’s Regulatory Compliance
The discussion further dived into Ripple’s broader role in the crypto space, emphasizing the company’s commitment to compliance and regulatory engagement. Garlinghouse shared insights into Ripple’s acquisitions, particularly Standard Custody, emphasizing the importance of custody solutions for institutional success in the crypto sphere. Ripple participates in a super PAC, alongside Andreessen Horowitz and Coinbase, to support pro-crypto candidates advocating for constructive regulation and innovation. He addressed the regulatory challenges faced by the crypto industry, particularly Senator Elizabeth Warren’s stance on AML and KYC laws.
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