Ripple CEO Brad Garlinghouse has emphasized that the resolution of Ripple’s legal dispute with the United States Securities and Exchange Commission (SEC) does not mark the end of the fight for regulatory clarity in the industry.
While the case is nearing its conclusion, Garlinghouse asserts that the struggle for clear regulations must persist.
Following the unsealing of the Hinman Documents on June 13 as part of the ongoing lawsuit, Garlinghouse took to Twitter to share his thoughts on the timeline of the case and express his frustration with the SEC.
In a video posted on June 17, he highlighted that the newly revealed documents indicate that the SEC intentionally created confusion regarding the rules and exploited that confusion for enforcement purposes.
Garlinghouse did not hold back in his criticism of the SEC’s conduct, characterizing it as a clear example of acting in “bad faith, plain and simple.”
According to him, this questionable behavior was evident right from the start of the legal proceedings initiated by the SEC in December 2020.
He expressed his dismay at the timing of the lawsuit, which was filed just “days before Christmas,” likening it to a cruel act akin to the Grinch stealing joy during the holiday season.
While the Ripple case might soon reach a conclusion, Garlinghouse stressed that the fight for regulatory clarity and fair treatment for the industry is far from over. He believes that continued efforts are necessary to ensure a transparent and predictable regulatory environment, not only for Ripple but for other companies operating in the cryptocurrency and blockchain space.
Garlinghouse’s remarks highlight the importance of addressing regulatory ambiguity and the need for government agencies to act in good faith when engaging with innovative technologies.
His message resonates with many in the industry who seek a clear framework that allows for responsible innovation and fosters growth while ensuring the protection of investors and consumers.
As Ripple’s legal battle draws nearer to its end, Garlinghouse’s call to action serves as a reminder that the fight for regulatory clarity must persist, urging industry participants, policymakers, and regulators to work together to establish a fair and transparent regulatory landscape for cryptocurrencies and blockchain technology.
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