Ripple has had its “strongest year ever” despite a lawsuit over XRP by the US Securities and Exchange Commission (SEC), according to CEO Brad Garlinghouse. Calling cryptocurrencies a “wild west” is a farce,” he said, stressing that “the majority adhere to financial regulators globally.”
Ripple has the best year despite SEC’s lawsuit over XRP
Brad Garlinghouse, CEO of Ripple, spoke about the achievements of his company and the regulation of cryptocurrency in a series of tweets on Wednesday. He explained that despite the lawsuit over XRP, Ripple had its “strongest year ever.”
The US Securities and Exchange Commission (SEC) filed a lawsuit against him, Ripple Labs, and co-founder Chris Larsen a year ago. The Securities and Exchange Commission claimed that XRP should have been registered as a financial instrument.
While Garlinghouse insisted that the SEC’s lawsuit against XRP was “an attack on US cryptocurrencies, not just Ripple.”
2021 was a watershed year for cryptocurrencies. Acceptance and awareness of the opportunity to bring billions of people into the global financial community has never been so clear. It was amazing to see so much less “extremism”, and so many builders joining the industry.
The CEO proceeded to outline the progress Ripple has made over the course of the year, such as the launch of new On-Demand Liquidity (ODL) corridors and the dissolution of the Central Bank Digital Currency (CBDC). He believed that “all this growth came from outside the United States.”
Garlinghouse then noted that SEC President Gary Gensler “has taken a strong anti-crypto approach and that companies are already moving out of the US.” He emphasized that “the SEC today will not answer questions about the legal status of ETH, let alone anything else,” explaining:
Calling cryptocurrencies the “Wild West” is a farce – most of them adhere to financial regulators globally. The industry should not be penalized for demanding regulatory clarity and regulation that is consistently enforced with equal opportunity.
What do you think of Garlinghouse’s comments? Let us know in the comments section below.
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