Ripple’s Brad Garlinghouse slams SEC in XRP lawsuit anniversary

Rick Steves

Other prominent figures within the XRP community made their comments, including attorney Jeremy Hogan. 

The SEC v. Ripple case was filed on 22 December 2020. One year later, the crypto industry and investors are still waiting for the lawsuit to either end in a settlement or a court ruling, but to end.

The anniversary has been taken as an opportunity to reflect on the issues plaguing the digital assets industry in the United States, including what is perceived to be a lack of regulatory clarity.

The battle is just beginning

Brad Garlinghouse, Chief Executive Officer of Ripple, took to Twitter to share his thoughts on the first birthday of the lawsuit, pointing the finger at ex-SEC Chair Jay Clayton as the “battle is just beginning”.

“Today, the SEC voted to attack crypto. Chairman Jay Clayton – in his final act – is picking winners and trying to limit US innovation in the crypto industry to BTC and ETH.

“We know crypto and blockchain technologies aren’t going anywhere. Ripple has and will continue to use XRP because it is the best digital asset for payments – speed, cost, scalability and energy efficiency. It’s traded on 200+ exchanges globally and will continue to thrive.

“The SEC – out of step with other G20 countries & the rest of the US govt – should not be able to cherry-pick what innovation looks like (especially when their decision directly benefits China). Make no mistake, we are ready to fight and win – this battle is just beginning”.

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US Courts usually get it right, said Jeremy Hogan

On the anniversary of the lawsuit, other prominent figures within the XRP community made their comments, including attorney Jeremy Hogan.

“I have been involved in a thousand lawsuits in various U.S. Courts and various areas of law. The Court system is frustrating and lengthy. But what I know is that – IT USUALLY GETS IT RIGHT. Don’t give in to cynicism. It will get it right, again.”

As for the court case, the expert discovery has been extended after both parties requested leave to take to one final expert deposition on January 19, 2022.

The expert discovery features the testimony of 16 experts and will be key to understanding the ins and outs of the digital asset space.

That, coupled with the documents handed over as part of the fact discovery, will serve as the basis for future rulings as Ripple eyes a win on the fair notice defense.

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