Ripple will stop operating in the US if the SEC wins the lawsuit in court, says CEO Brad Garlinhouse

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Ripple will stop operating in the US if the SEC wins the lawsuit in court, says CEO Brad Garlinhouse By Angel Di Matteo @shadowargel

For Garlinghouse, there is currently no difference to Rippl itself the SEQ win the case or not, but stressed that if they lose, they will choose to establish themselves and offer their services in other countries.

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The CEO of Ripple Labs, Brad Garlinghouse, assured that the company will leave the US if the Securities and Exchange Commission (SEC) he wins the legal dispute he holds against the company in court.

there would be no difference to Rippl if you win or lose the case

This was confirmed by Garlinghouse during an interview for the media Axios, in which he reiterated that the company will stop operating in the US if it loses the lawsuit against the SEC, which accuses the company of having issued and marketed an unregistered security when it pre-sold the token XRP between 2013 and 2015.

In this regard, Garlinghouse commented:

“Not that we can, we will… If you think about how the world is working right now, it’s like the case is lost, apart from a few other exceptions… so if we lose, if Ripple loses the case, will anything change? ”.

For some analysts, the statements of the CEO of Rippl are contradictory, since weeks ago he was very happy with the results achieved throughout the legal dispute, which in his opinion, brought the company very close to winning the lawsuit against the company. SEQ and set an important precedent for the industry as a whole.

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But in relation to Garlinghouse’s position, the media Axios details that the possible scenarios for Rippl in the US they do not seem to be very encouraging:

  • If the company were to win the lawsuit, this would fuel the growth of its business and boost other developer entities within the crypto space. However, this is no guarantee that the token XRP be listed again on platforms like Coinbase.
  • If they lose the claim, Rippl It would focus on working with headquarters in another country, which it has already been doing since the dispute with the SEC began in 2020, for which it has already established offices in Canada.

SEQ does not handle regulations fairly

In addition to the aforementioned, Garlinghouse detailed again that the SEQ It would be handling the regulations in which it is protected in a contradictory way, and that on the one hand uses them to stigmatize cases, but on the other benefits companies with other interests.

In this sense, the CEO of Rippl again cited the case of coinbase, entity to which it allowed to publicly list its shares on the stock market, despite not being a broker duly authorized by US regulators.

At the time Garlinghouse commented:

“The SEC now seems to take the position when they sued us that ‘XRP is a security and always has been,’ but approved of Coinbase going public even though…it is not a registered broker. There are some inconsistencies here that the SEC almost doesn’t… know if it’s the left hand or the right hand.”

And I add:

“The SEC, instead of doing the hard work to define a new set of clear rules, a new set of clear regulations… instead they decide that we are going to do the regulation through the application, which is not efficient and really I think it has stifled innovation in the US.”


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Font: dailyhodl, Axios

Angel Di Matteo version / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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