Ripple boss Brad Garlinghouse Optimistic: SEC has to wait before making a call to Ripple Labs

Ripple boss Brad Garlinghouse Optimistic: SEC has to wait before making a call to Ripple Labs

Ripple boss Brad Garlinghouse is confident that the American stock exchange supervision SEC (Securities and Exchange Commission) has to wait some time before it can appeal against the latest judgment in the legal dispute with Ripple Labs. On July 13, the US judge Analisa Torres decided in favor of the defendant and found that the sale of the Ripple cryptocurrency XRP to private investors does not represent a securities and therefore do not have illegal securities sales.

However, Torres added that the sale of XRP to institutional investors is very well regarded as a sales sale, since it fulfills the legal criteria of the so-called Howey test. Brad Garlinghouse commented on this in an interview with Bloomberg on July 15 and explained that the decision to sell to institutional investors was negligible. The decision regarding sales to private investors, which is known to be in the sense of Ripple Labs, is much more important.

Garlinghouse assumes that it will take some time for the SEC to object to the judgment. As long as this does not happen, the decision of judge Torres and Ripple Labs is optimistic. The Ripple boss also emphasizes that this is the first major crypto case that the US stock exchange supervision has lost. He sharply criticizes the authority and accuses her of behaving like a tyrant over the crypto industry. In particular, they act against crypto companies that cannot afford a reasonable defense.

In addition, Garlinghouse reminds that the submission of the complaint by the SEC at the end of 2020 led to the fact that most cryptopoos took from their notations due to the uncertainty, including large platforms such as coin base and octopuses. The Ripple boss accuses the SEC of deliberately donating confusion, even though she knew about the legal situation. This was ultimately possible at the expense of the innovation of the United States and the participation of entrepreneurs, investors and investors at the cryptomarkt and the blockchain industry.

In a tweet Garlinghouse explains that Ripple Labs had already emphasized in December 2020 that they would be on the right side of the law and that they would also be on the right side of the story. He thanks everyone who has contributed to the fact that the decision has failed in favor of the crypto innovation in the USA and promises that more will come. Finally, Garlinghouse sums up that the SEC tried to provide power and politics about sensible regulation and clear guidelines, which was unnecessarily difficult for entrepreneurs, investors and investors to participate in the cryptomarkt and in the blockchain industry.