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Ripple CEO Brad Garlinghouse Addresses Allegations From US SEC

  • Ripple CEO Brad Garlinghouse addressed some of the allegations made by the U.S. Securities and Exchange Commission against his company, focusing on answering five questions on what he calls “unproven allegations” by the regulator.
  • Garlinghouse claimed that the blockchain company “tried” to settle with the U.S. SEC and added that the firm will try again with the new administration but refused to go into specifics.
  • Garlinghouse referenced the DCEA when talking about exchanges delisting XRP: “With [eight] different govt agencies, each with their own (and sometimes opposing) views of crypto, U.S. market participants are facing conflicting policies and no surprise, some act conservatively.”
  • “We’ve moved from lack of regulatory clarity to regulatory chaos in the U.S. This is why regulation by enforcement is such bad public policy. With the new administration, we expect DCEA to be reintroduced – common-sense legislation providing clarity to the entire industry.”
  • The Ripple CEO also recognized that the company “provided some customers, especially first movers,” with incentives to use its On-Demand Liquidity (ODL) services and added that companies such as Paypal, Visa, and Mastercard “still” use incentives.
  • Read the full story here

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