Ripple $2.4 Labs CEO Brad Garlinghouse has attracted intense media and social media attention recently. In particular, his interview on 60 Minutes and former US SEC Enforcement official John Reed Stark’s comments on this subject were widely discussed.
Response to Allegations from Ripple CEO
Brad Garlinghouse described John Reed Stark as “Gensler Shill” and stated that some of the statements made by Stark on the 60 Minutes program did not include important details. Garlinghouse stated that the media outlet omitted critical information such as the federal judge’s decision that XRP is not a security.
While the court recognized institutional sales of XRP Coin as investment contracts/security, it did not include the purchases of individual investors on the stock exchanges. Following this decision, US-based Cryptocurrency exchanges have the opportunity to re-list XRP Coin.
Changes Awaiting the US SEC
The appointment of Paul Atkins, who was nominated by new President Donald Trump to lead the SEC in January, was welcomed by Ripple CEO Garlinghouse. With the appointment of Atkins, the SEC is expected to take a more pro-crypto stance.
Brad Garlinghouse:
“John, you may not know Gensler, but your statements sounded very similar to his talking points. “Such outright lies reflect Gensler’s views.”
Ripple CEO continued to defend crypto assets, emphasizing that cryptocurrencies are not the main problem of society. Instead, he stated that it was about the US SEC’s strict oversight of crypto markets. He also stated that he agreed with John Reed Stark that all enforcement actions should be terminated.
After seeing the support from cryptocurrency investors, Trump firmly pledged to keep his promises. However, the crypto-friendliness of the names appointed at many critical points, including the Minister of Treasury, is considered a harbinger of good days ahead for the markets. Because of his power in the Senate and House of Representatives, Trump can easily do his part to ensure regulatory clarity regarding cryptocurrencies.
The views of the Ripple executive stand out as an indicator of how tough the discussions within the cryptocurrency industry are. The company’s criticism and campaign support of the SEC could have a significant impact on future regulations.
Criticisms of Ripple CEO and the company’s policies continue to have significant repercussions in the cryptocurrency world. In this process, the approach of regulatory authorities and the reactions of industry leaders will play a critical role in shaping the future of the industry.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
