According to CEO Brad Garlinghouse, Ripple has achieved “the strongest year in history” despite a proceeding over XRP by the US Securities and Exchange Commission (SEC). “It’s a farce to call cryptocurrencies’Wild West’,” he said, emphasizing that “most are compliant with global financial regulators.”
Despite the SEC proceedings over XRP, Ripple has had its best year
Ripple CEO Brad Garlinghouse talked about his company’s performance and cryptocurrency regulation in a series of tweets on Wednesday. He explained that Ripple was “the strongest year in history” despite the proceedings over XRP.
The US Securities and Exchange Commission (SEC) filed a proceeding against him, Ripple Labs, and co-founder Chris Larsen a year ago. The Securities Watchdog argued that XRP should have been registered as a securities.
Garlinghouse said, arguing that the SEC’s proceedings against XRP were “attacks against cryptography in the United States, not just Ripple.”
2021 was the watershed year of cryptocurrencies. It is clearer than ever that we are embracing and recognizing the opportunity to bring billions of people into the financial community of the world. It’s incredible to see more builders participating in the industry with far less “maximumism”.
The CEO gave an overview of Ripple’s annual progress, including the launch of a new on-demand liquidity (ODL) corridor and its Central Bank Digital Currency (CBDC) solution. “All this growth came from outside the United States,” he said.
Garlinghouse then said SEC Chairman Gary Gensler “is actively adopting cryptocurrency measures and companies are already moving out of the United States.” “Today’s SEC does not answer questions about ETH’s legal status, much less anything else,” he said, elaborating:
Calling cryptocurrencies “Wild West” is a farce. Most are compliant with global financial regulators. The industry should not be punished for the clarity and regulation of regulations that are consistently applied in the context of equal competition.
What do you think of Garlinghouse’s comments? Let us know in the comments section below.
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