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.
Read CRYPTONEWSLAND onOngoing 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.
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