Ripple chief executive Brad Garlinghouse thinks his company’s recent legal victories over the U.S. 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 need to change its tactics of attempting to regulate via lawsuits.
“The SEC, in my opinion, has lost sight of their mission to protect investors, and the question is, ‘Who are they protecting in this journey?’”
Garlinghouse says he thinks it’s positive for the whole crypto industry that the SEC “has been put in check” in the US by Ripple’s recent legal victories.
“I’m hopeful this will be a thawing of the permafrost in the United States for really seeing an amazing industry, that has immense potential, thrive in the largest economy in the world.”
Last month, the SEC dropped its aiding and abetting charges against Garlinghouse and Ripple co-founder co-founder Chris Larsen.
The charges were related to the SEC’s original lawsuit from 2020 that alleged Ripple issued XRP, the native asset of the XRP ledger, as an unregistered security. In July, the courts decided that the company’s automated, open-market sales of XRP, referred to as programmatic sales, did not constitute securities offerings.
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