Brad Garlinghouse says that the U.S. Securities and Exchange Commission (SEC) has failed on everything that matters after a judge issued a groundbreaking ruling in favor of Ripple.
In a new thread, the CEO responds to Fox Business reporter Charles Gasparino, saying that the regulatory agency has no grounds to claim that Judge Analisa Torres’ ruling was a split victory between Ripple and the SEC.
“Charlie, happy to come into the studio any time to discuss the facts. Any attempt by the SEC to paint this as some sort of split victory is pathetic. They lost on everything that matters (as many lawyers have noted, not just Ripple’s).”
Gasparino had asked how Ripple plans to “settle part of the SEC case it lost.”
Answering Gasparino, Garlinghouse says that the courts will decide the settlement but notes that the case wasn’t about penalties or fees, but about establishing XRP as a non-security, which was the ruling.
“To your question here about potential penalties – that’s up to the court to decide, not the SEC. You very well know this case was never about fines or penalties, it was about establishing the non-security status of XRP. We won. They lost.”
Garlinghouse goes on to say that the ruling counters the SEC’s claim that all digital assets count as securities.
“Hoping yesterday’s decision is the wake-up call that Congress needs. This ruling directly undercuts the SEC’s claims that nearly all tokens are inherently securities – likely to set a positive precedent for other digital tokens in the US.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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