The ongoing legal saga between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Ripple’s CEO recently shared insights on whether the case is truly resolved.
We’ll break down the SEC’s losses, the chance of a Supreme Court showdown, and what it means for Ripple and the crypto world. Read on!
Ripple CEO, Brad Garlinghouse, recently provided a comprehensive update on the company’s battle with the SEC. Meanwhile, at during a fireside chat at the 2023 DC Tech Week, Garlinghouse asserted that the SEC faced substantial losses in crucial aspects of the Ripple case, emphasizing, “The SEC has lost on everything that matters.”
Garlinghouse underscores that the finality of the case depends on the SEC’s decision to pursue an appeal, suggesting that further legal action would amplify the impact of the SEC’s losses.
Furthermore, Garlinghouse reiterated Ripple’s readiness to take the case to the U.S. Supreme Court if circumstances necessitate. Expressing a firm belief that the SEC would not succeed at the Supreme Court, he highlighted the historical trend of the highest court being unsympathetic to regulators.
Also Read: Ripple IPO Update: Wall Street Expert Reveals When Ripple Will Go Public
Highlighting the SEC’s setbacks in the Grayscale case, where the judge criticized the regulator’s actions as “arbitrary and capricious,” Garlinghouse urges the SEC to reconsider its crypto regulatory path.
The judge’s choice of words, hinting at intentional and irrational decision-making, got Garlinghouse thinking. He believes it’s high time for the SEC to do some serious soul-searching about its regulatory strategy, especially with the less-than-stellar outcomes they’ve been facing.
Garlinghouse, worried that the U.S. might lose its crypto crown, pointed out how other countries are embracing clear-cut policies to lure in crypto investments. While the rest of the world is opening its arms, the U.S. is playing it cool, risking its top spot in the crypto game.
Despite the worries, Garlinghouse stayed hopeful about the next decade. He believes a positive set of rules for the U.S. crypto scene is just around the corner. Keeping an eye on what’s happening globally, he stressed how crucial it is for the U.S. to get with the crypto program and keep its place in the market.
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