Brad Garlinghouse says the US Securities and Exchange Commission (SEC) has failed in everything that matters after a judge made a landmark ruling in favor of Ripple.
In a new thread, the CEO reacts to Fox Business reporter Charles Gasparino, saying the regulator has no reason to argue that Judge Analisa Torres’ ruling was a shared victory between Ripple and the SEC.
“Charlie, I’d like to come into the studio and discuss the facts. Any attempt by the SEC to portray this as some kind of shared victory is pathetic. They lost on everything that matters (as many lawyers have pointed out, not just Ripple’s).”
Gasparino did early how Ripple intends to “settle part of the lost SEC case”.
Answer Gasparino, Garlinghouse say that the courts will decide the settlement, but notes that the case was not about fines or fees, but rather about establishing XRP as a non-security, which was the ruling.
“To your question here about possible penalties — that’s for the court to decide, not the SEC. You know very well that this case was never about fines or penalties, but about establishing the non-security status of XRP. We won. They lost.”
Garlinghouse continues participation that the ruling goes against the SEC’s claim that all digital assets count as securities.
“I hope yesterday’s decision is the wake-up call Congress needs. This ruling directly undermines the SEC’s claims that nearly all tokens are inherently securities – and is likely to set a positive precedent for other digital tokens in the US.”
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