Brad Garlinghouse, the CEO of Ripple, has said that he thinks the legal dispute between Ripple and the Securities and Exchange Commission of the United States (SEC) is about to come to a close, but he also stresses that the struggle for regulatory clarity in the cryptocurrency business must continue. The Hinman Documents, which are a part of the current case and provide insight into the SEC's activities and goals, were released after Garlinghouse's comments.
Garlinghouse slammed the SEC for allegedly behaving in bad faith and purposefully confusing the market in a video that was shared on Twitter. The necessity for regulatory clarity is discussed along with Garlinghouse's words and viewpoint in this article.
SEC Criticism from Garlinghouse
The SEC was accused of operating in "bad faith, plain and simple" by Garlinghouse, who harshly criticized the regulatory body's activities in the video posted to Twitter. He said that the SEC deliberately sowed doubt about the laws and then used that doubt to its advantage when enforcing them. Garlinghouse said that the SEC's activities were motivated by power-seeking and political agendas rather than a commitment to solid policy. Additionally, he attacked the lawsuit's timing, saying that it seemed to be a "grinch-like touch" to file it only a few days before Christmas in 2020.
Be a Regulatory Clarity Advocate
Garlinghouse underlined that the legal dispute between Ripple and the SEC signals a bigger struggle for regulatory clarity in the cryptocurrency business rather than being limited to their particular issue. He said that the struggle for clarity "must go on." Garlinghouse asserts that the SEC's actions and the disclosure of the Hinman Documents show just how harshly the SEC has retaliated against crypto participants despite its public declarations of openness and support for the sector. He contended that the SEC's measures had stifled innovation in the bitcoin industry and caused uncertainty.
Conclusion
Ripple CEO Brad Garlinghouse emphasizes that the struggle for regulatory clarity in the cryptocurrency sector must continue as Ripple's legal battle against the SEC nears its conclusion. He condemns the SEC's activities, charging them of acting in bad faith and purposefully confusing the public. The publication of the Hinman Documents lends credence to Garlinghouse's assertions that the SEC is aiming to hinder innovation and the bitcoin business in the United States. The resolution of this court dispute and the continuing struggle for regulatory clarification will have a big influence on the future of the cryptocurrency business and how it interacts with regulatory agencies.
Reference:
URL: https://cointelegraph.com/news/ripple-ceo-brad-garlinghouse-fight-for-clarity
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