Nothing like a good drama between giants in the world of cryptocurrencies to catch the public’s attention, right? And the saga between Ripple Labs and the Securities Exchange Commission (SEC) has all this and a little more. XRP’s victory before the SEC marked a significant moment for the crypto ecosystem. But what happened behind the scenes of this legal battle?

The discussion surrounding XRP and its classification as a security was the main focus of this dispute. Brad Garlinghouse, the prominent CEO of Ripple Labs, decided to go public and spared no criticism of Jay Clayton, former president of the SEC. In a recent interview, he highlighted Clayton’s attitude of filing the lawsuit and literally walking out the door the next day. Garlinghouse’s criticism not only shows his frustration with the SEC, but also sheds light on the need for more transparent regulation in the crypto world.

Watching this clip makes my blood boil.
The hypocrisy is shocking. @CNBC @SquawkCNBC should be calling him out on this bullshit.
(As a reminder, Jay Clayton filed the lawsuit against Ripple, myself and Chris Larsen. And left the building the next day).

Of course, the final verdict was in favor of Ripple Labs, with the SEC charges being dropped. The allegations became public just before Clayton’s term ended in June 2021, which raises several questions about the timing of this process.

And Garlinghouse? Well, he didn’t stop there. The CEO of Ripple Labs made a point of continuing to express his dissatisfaction with the SEC. For him, the lack of clarity in regulation, the perception of double standards and the impact of legal action on XRP holders are reasons for concern. And it’s not just the SEC that’s in Garlinghouse’s sights. He also questioned Clayton’s attitude in initiating the process and then abandoning the SEC. And, most intriguingly, he suggests that this legal battle may have been driven by personal or even political reasons.

This clash between Ripple Labs and the SEC highlights the urgent need for a clear and unified understanding of how cryptocurrencies should be regulated. Until this clarity comes, we can expect more interesting episodes on the cryptocurrency stage.

At the time of publication, the price of XRP was listed at $0.556628, up 2% in the last 24 hours.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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