- Ripple CEO Brad Garlinghouse advocates for U.S. crypto leadership amidst regulatory challenges and legal scrutiny.
- A new lawsuit accuses Garlinghouse of deceptive statements regarding XRP holdings and sales in 2017.
- Ripple’s ongoing SEC battle over XRP’s security status saw a partial victory in a New York federal court last year.
Brad Garlinghouse, the CEO of Ripple, remains optimistic about the U.S. leading the blockchain and cryptocurrency sectors, despite the company facing new regulatory challenges and a recent lawsuit.
JackTheRippler, a strong advocate for Ripple, posted on X a snippet from Garlinghouse’s CNBC interview, where the CEO expressed his concerns about the resistance the cryptocurrency sector encounters from the U.S. government. Garlinghouse said the sector is “lagging in Washington” and is now in a defensive stance.
Garlinghouse mentioned that there have been issues with different policies implemented for the cryptocurrency industry in the U. S. due to the lack of understanding among policymakers and even claimed that some policymakers are deliberately acting against the development of the cryptocurrency industry.
Legal Challenges and Allegations Against Ripple CEO
In the meantime, Ripple faces a new legal case alleging that Garlinghouse made “deceptive statements” in a 2017 interview. A California high court judge decided to proceed with the case through a jury trial instead of making a summary judgement.
The lawsuit increases focus on Garlinghouse stating to the Canadian BNN Bloomberg reporters in 2017 that he had hefty stakes in XRP, Ripple’s digital currency, even as he sold millions of XRP.
Ongoing SEC Disputes
Recently, Ripple CEO Brad Garlinghouse clarified the outcomes of a California court ruling, describing it as a major win for XRP. He corrected misleading reports in the cryptocurrency media, confirming that Judge Phyllis Hamilton had dismissed all class action claims against Ripple, thereby affirming that the company’s actions involving XRP did not violate securities laws.
Last year in July, a federal court in New York ruled that its selling of XRP through exchanges and algorithms did not amount to violation of U. S. securities law, hence giving the fintech company a partial win over the SEC.
Read Also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
