Ripple has achieved the “strongest year ever” despite the lawsuit over XRP by the U.S. Securities and Exchange Commission, according to its CEO Brad Garlinghouse. “Calling crypto the ‘Wild West’ is a farce,” he said, emphasizing that “most are complying with financial regulators globally.” Ripple CEO talked about his company’s achievement and cryptocurrency regulation in a series of tweets Wednesday.
Ripple had the strongest year despite the lawsuit.
As reported earlier, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against him, Ripple Labs, and co-founder Chris Larsen a year ago. The securities watchdog alleged that XRP should have been registered as a security. While insisting that the SEC’s lawsuit against XRP “is an attack on crypto in the U.S., not just Ripple,” Garlinghouse noted. “2021 has been a watershed year for crypto. Acceptance and awareness of the opportunity to bring billions of people into the global financial community has never been so clear. It’s been incredible to see a lot less ‘maximalism,’ and many more builders joining the industry,” he added.
“SEC Chairman Gary Gensler has taken an aggressively anti-crypto approach.”
Ripple CEO noted that SEC Chairman Gary Gensler “has taken an aggressively anti-crypto approach and companies are already moving outside the U.S.” He asserted that “the SEC today won’t answer questions about the legal status of ETH, much less anything else. He said, “calling crypto the ‘Wild West’ is a farce – most are complying with financial regulators globally. This industry shouldn’t be punished for asking for regulatory clarity & regulation that is consistently applied with a level playing field.”