In a forceful statement, Brad Garlinghouse, CEO of Ripple, pointed out the United States as one of the least favorable places to establish a cryptocurrency company today. This statement occurred during his participation in the 2049 Token in Singapore on September 12.

Garlinghouse emphasized that, from his perspective, the United States is at the bottom of the list of favorable destinations for business creation in the crypto world. This verdict relates directly to the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC).

The Ripple leader advocated for the United States to take an example from nations such as Singapore, the United Kingdom, the United Arab Emirates and Switzerland, urging the implementation of policies that stimulate innovation in the field of cryptocurrencies while at the same time protecting the interests of consumers.

Garlinghouse placed responsibility on the SEC, arguing that this entity is immersed in a political contest with the sector, carrying out a series of lawsuits seeking its stricter regulation.

The Ripple CEO highlighted that this strategy has not had the desired effect, suggesting that Ripple and Grayscale’s legal victories over the SEC indicate a change of attitude in the courts in favor of the crypto industry.

“I think we’re seeing a change in trend. Before, a lot of judges used to think, ‘The SEC is always right,’ but I think we’re starting to see a change in pattern,” Garlinghouse said.

Although the Ripple and Grayscale resolutions are not binding from a legal perspective, Garlinghouse stressed that they provide greater clarity to cryptocurrency exchange platforms and custody providers operating in the United States, at least in the short term.

On the other hand, Hong Fang, president of OKX, recognized the relevance of politics in this context, but insisted that cryptocurrency-related companies must focus on what they can control.

“We can only influence what is within our power: building a quality product, focusing on technology and supporting responsible regulation,” Fang noted.

Although the United States represents a significant market for Ripple, Garlinghouse announced plans to expand its services into nations that, in his view, show a more progressive approach and understanding towards the potential benefits of blockchain technology.

K. Tovar

Source: Cointelegraph

(Referential image source: Kanchanara, Unsplash)

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La entrada United States: An inhospitable terrain for cryptocurrencies according to Ripple CEO apareció primero en Bitfinance.

Ripple CEO Brad Garlinghouse doubts that the company could reach an understanding with the United States Securities and Exchange Commission (SEC).

These statements are based on the fact that Garlinghouse does not see that there are conditions that guarantee a possible agreement between the parties involved in the case.

Despite this, the CEO of Ripple said that the only way they could sit down to negotiate is for the SEC to recognize that the xrp token is not a security.

The SEC filed charges against Ripple for the 2013 pre-sale of the xrp token, which it classified as an unregistered security. Said dispute reached the courts, and for many critics the trial may be transcendental for the cryptocurrency ecosystem, since it would set an important precedent on the legal definition that would apply to many currently circulating digital assets.

In light of the above, Garlinghouse maintains that the legal battle they are waging comes as a representation of the entire cryptocurrency industry, precisely to ensure that fair conditions are applied to this nascent sector.

K. Tovar

Source: Diariobitcoin

(Reference image source: Protocol)

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La entrada Ripple sees no settlement with the SEC apareció primero en Bitfinance.