Ripple has achieved the “strongest year ever” despite the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC), according to CEO Brad Garlinghouse. “Calling crypto the ‘Wild West’ is a farce,” he said, emphasizing that “most are complying with financial regulators globally.”
Ripple has best year despite SEC XRP lawsuit
Ripple CEO Brad Garlinghouse spoke about his company’s accomplishments and cryptocurrency regulation in a series of tweets on Wednesday. He explained that despite the lawsuit against XRP, Ripple had “the strongest year ever.”
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against him, Ripple Labs, and co-founder Chris Larsen a year ago. The securities watchdog alleged that XRP should have been registered as a security.
While insisting that the SEC’s lawsuit against XRP “is an attack on crypto in the United States, not just Ripple,” Garlinghouse detailed:
2021 has been a watershed year for crypto. Acceptance and awareness of the opportunity to bring billions of people into the global financial community has never been so clear. It’s been incredible to see a lot less ‘maximalism’, and many more builders joining the industry.
The CEO then described Ripple’s progress over the year, such as launching new on-demand liquidity corridors (ODLs) and its central bank digital currency (CBDC) solution. “All of this growth has come from outside the United States,” he said.
Garlinghouse then noted that SEC Chairman Gary Gensler “has taken an aggressively anti-crypto approach and companies are already moving outside the US.” He asserted that “the SEC today won’t answer questions about the legal status of ETH, much less anything else,” elaborating:
Calling crypto the “Wild West” is a joke – most comply with financial regulators around the world. This industry should not be punished for asking for regulatory clarity and regulations that are consistently applied with a level playing field.
