Ripple CEO Brad Garlinghouse thinks his company’s recent legal victories against the US Securities and Exchange Commission (SEC) could be a sign of changing times for crypto in the country.
In a recent interview with CNBC’s Dan Murphy, Garlinghouse argues that the SEC will soon have to change its tactics to try to regulate through lawsuits.
“The SEC, in my opinion, has lost sight of their mission to protect investors, and the question is, ‘Who are they protecting on this journey?’”
Garlinghouse says he thinks it’s a positive for the entire crypto industry that the US SEC has been “brought under scrutiny” by Ripple’s recent legal victories.
“I am hopeful that this will be a thawing of the permafrost in the United States, because we are really seeing an amazing industry, which has enormous potential, flourishing in the largest economy in the world.”
Last month, the SEC dropped charges against Garlinghouse and Ripple co-founder Chris Larsen.
The charges related to the SEC’s original 2020 lawsuit alleging that Ripple issued XRP, the original asset of the XRP ledger, as an unregistered security. In July, the court ruled that the automated sale of XRP on the open market, also known as programmatic sales, did not constitute a securities offering.
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