Summary:
Ripple CEO Brad Garlinghouse expressed his sentiments about the recent ruling that XRP is not a security. He highlighted the positive impact on Ripple and the crypto industry, stating that the ruling sets a positive precedent for other digital tokens in the US. Garlinghouse criticized the SEC’s approach to the case, calling them a bully and accusing them of hindering the US’s position in the global crypto community. He also mentioned the delistings of XRP on various platforms, but noted that major US exchanges are either relisting XRP or expressing their intent to do so. Garlinghouse expressed confidence in the judge’s decision and downplayed the likelihood of an SEC appeal, mentioning that it would take years and potentially reinforce the ruling.
Key Points:
- Federal District judge ruled that XRP is not an unregistered security, except when used to raise funds from institutions.
- Garlinghouse emphasized the positive impact of the ruling on Ripple and the crypto industry.
- SEC brought three lawsuits against Garlinghouse, Chris Larson, and Ripple, but the judge ruled in favor of Ripple.
- Garlinghouse criticized the SEC’s approach and accused them of hindering the US’s position in the global crypto community.
- Major US exchanges are either relisting XRP or expressing their intent to do so due to the clarity provided by the judge’s ruling.
Hot Take:
The ruling that XRP is not a security is a significant victory for Ripple and the crypto industry. It sets a positive precedent for other digital tokens, showing that not all tokens should be classified as securities. However, the SEC’s approach to the case and their treatment of cryptocurrencies as a whole has been criticized by Ripple CEO Brad Garlinghouse. He believes that the SEC has been a bully and that their actions have hindered innovation and market participation. While the ruling provides some relief, regulatory certainty is still needed to foster a thriving and innovative crypto market ecosystem.
By
By
By
By
By