Ripple CEO Reveals Criteria for Settlement with US SEC

Ripple CEO Reveals Criteria for Settlement with US SEC
September 26, 2021
September 26, 2021

Kelly Cromley
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Due to the SEC’s failure to protect investors, Brad Garlinghouse believes the Bitcoin sector is being unnecessarily targeted. According to the most recent interview, he reiterated his previous testimony, accusing the SEC of being unclear, while also outlining the only criteria within which his company would agree to an agreement with the agency.

Securities and Exchange Commission (SEC) chairman Gary Gensler claims that the Bitcoin sector has had sufficient transparency since he took office. Garlinghouse, on the other hand, has urged Congress to pass laws to regulate business.

He said in an interview on FOX Business: “I don’t think we can go on saying, ‘Well, there’s clarity,’ as we’ve heard many times from SEC officials, even more so recently under Chairman Gary Gensler. We cannot say that things are crystal clear and at the same time ask Congress to pass additional laws to make things even clearer. Both are mutually exclusive. “

Garlinghouse had pointed out the inconsistency several times. He recently joined Senator Pat Toomey in his criticism of the Securities and Exchange Commission (SEC). Ripple has been sued by the SEC, led by previous chairman Jay Clayton, over the offering of an unregistered security in XRP. Notably, Clayton subsequently left the government and joined Bitcoin and Ethereum-related organizations, which raised concerns.

Even if he won’t call it an anti-XRP or pro-ether conspiracy, Garlinghouse thinks the terms are dubious. “Since I have no idea what other people want to achieve, I try to stay out of their business. To put it simply, I think the timing is wrong. In my opinion, a bad performance. “

Most of the time, during the ongoing SEC vs Ripple dispute, there were rumors of a possible settlement. SEC comparisons with cryptocurrency companies like Kik and Telegram are known. For those curious, when asked about a settlement with the SEC, Garlinghouse said he would be open to it “To the extent that we can find a productive path for the SEC.”

“There is no circumstance under which we will commit ourselves until there is complete clarity about what is driving XRP.” he continued.

In today’s statement, Chairman Gensler insisted (again) that the securities laws for the crypto market were clear and easy to understand … and then turned around and said Congress needed to write laws to clarify. So which one is it?

Thank you @SenToomey for being a voice of reason.

– Brad Garlinghouse (@bgarlinghouse) September 14, 2021

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