5. März 2024

Ripple CEO Slams SEC’s Use of XRP Report in Legal Battle

• Brad Garlinghouse, CEO of Ripple, criticized the US Securities and Exchange Commission (SEC) for using Ripple’s XRP Markets Report in legal proceedings.
• On July 13th, the court delivered a ruling that XRP is not a security, which puts it on a pedestal alongside Bitcoin as one of the few digital assets in the U.S. to gain such clarity.
• The SEC’s approach to regulating cryptocurrencies has been questioned due to its strategy of intimidation and misinformation.

Brad Garlinghouse Criticizes SEC’s Use of XRP Report

Brad Garlinghouse, the CEO of Ripple, expressed serious concerns regarding the U.S. Securities and Exchange Commission’s (SEC) utilization of Ripple’s XRP Markets Report in legal proceedings.

Ripple’s Commitment to Transparency

Garlinghouse openly declared that the company began these reports with an earnest desire to provide voluntary updates on its XRP holdings. Unfortunately, this transparency has been “used against” Ripple in the ongoing legal tussle with the SEC.

Court Ruling on XRP Status

On July 13th, the court delivered a ruling that unequivocally stated that XRP is not a security. This put XRP on a pedestal alongside Bitcoin as one of the few digital assets in the U.S. to gain such clarity.

SEC’s Misinformation Strategy

The ruling also shed light on the SEC’s methods, portraying it as a strategy of intimidation and misinformation, aimed at consolidating its own political prowess.

Conclusion