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”.

FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages  

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.

Read this next

Digital Assets

Silvergate dismisses speculation of trouble, says BlockFi exposure is minimal

Crypto-friendly bank Silvergate Capital claimed on a Tuesday blog post that it had minimal exposure to crypto lender BlockFi, which filed for chapter 11 bankruptcy protection this week.

Retail FX

Fidelity launches crypto trading for retail investors

Fidelity Investments, one of the largest brokerages in the world, has officially rolled out a commission-free crypto trading product for retail investors, starting with zero-fee trading for Bitcoin and Ethereum.

Digital Assets

ECB head calls for tougher crypto regulation after FTX collapse

President of the European Central Bank, Christine Lagarde, has called on lawmakers to start working on fresh crypto regulations to protect the financial system after the collapse of the FTX exchange.

Retail FX

CySEC updates rules for regulated brokers’ cross border activity

As CySEC’s attitude of adopting more stringent licensing guidelines and operating regulations becomes ever clearer, certain aspects of the rules and operations start to come into sharper focus.

Market News

Outlook for Gold: Can the Precious Metal Regain Power?

Gold set an all-time high at $2070 on March 08, 2022, when the price skyrocketed amid investors’ worries about the military conflict in Eastern Europe.

Crypto Insider

2022 Islamic Finance recap: as the space continues to evolve, blockchain stands to play a big part

Despite the global economy being ravaged by turmoil induced by the Covid-19 pandemic over the last couple of years, the Islamic finance industry has emerged relatively unscathed

Crypto Insider

Decentralized Exchanges and Pooled Trading Platform Applications

Decentralized exchanges are one-way blockchain companies take back the power of value creation.

Crypto Insider

How to maximize the safety of your digital tokens?

Digitalization is the future of the investment world. These are the most preferred and growing investments in the world.

Institutional FX, Interviews

FIA EXPO 2022: Interview with Trading Technologies

The derivatives trading industry has gathered in Chicago to attend the FIA EXPO 2022 on 14-15 November. 

<