Garlinghouse Gives Key Insights Into Scuffle With The SEC

The majority in the crypto market, especially those in the XRP, are still anxiously waiting for how the lawsuit between Ripple and the SEC will turn out. While most of them have supported the claims that XRP can not be recognized as securities, it has done little or nothing to change the SEC’s view about the digital asset.

With court appearances scheduled to begin in the coming weeks, the CEO of Ripple, Brad Garlinghouse, has shed some light on some of the claims made by the regulatory body leading to the lawsuit. Trying to arrest some of the claims that were made by the SEC, Garlinghouse objected that most of their trades were not even carried out in the United States of America.

Garlinghouse said they had tried to settle the issue in the past

In his latest statement, Brad Garlinghouse noted that since almost all their trades are carried out outside the US, they were at a loss on where to list the digital asset. In a series of tweets that the CEO made, he noted that the company already tried to settle the SEC’s issue when it first came upon the past, but things fell through the mid way. While trying to calm everyone’s fears on the crypto market, especially those in the XRP community, Brad Garlinghouse mentioned that they are working on a solution in earnest, which would see them settle their latest issues with the SEC amicably.

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While giving major insights into why the SEC chose to come after them, Garlinghouse mentioned that things are not going how it used to in the United States. Several regulatory bodies are looking for scape goats. He also noted that several entities across the country were still cowering due to several things that are making the future of their respective ventures unsure. Garlinghouse also said that he shares a firm belief that this new administration will do something better than the previous ones while hinting that Ripple won’t hesitate to go to the negotiation table with them when the time comes.

Ripple CEO want unfavorable policies abolished

While assuring everyone, Garlinghouse said that everything is currently under wraps for now, and they are working around the clock to ensure that much damage won’t be done before they finally reach an agreement with the SEC. He also mentioned that customers who wish to trade XRP can continue to do so because their trades are still safe. Backing up his claims, Garlinghouse said that no one owns Ripple as it is listed on several exchanges across the globe, which means it is highly decentralized in nature.

Finalizing his series of tweets, Garlinghouse touched the sensitive areas of exchanges across the United States that have either delisted or suspended trades of their native token. He notes that even though he understands that several government policies are in place, that is why most exchanges are delisting the trades, but he feels things would go back to normal soon enough. Garlinghouse further said that some of the government policies that support several regulatory agencies and leave entities in the lurch should be abolished because, in the long run, they will ruin investments across the country.