In response to the current SEC lawsuit, Ripple CEO Brad Garlinghouse said that the United States is the only country on the planet that considers XRP to be a security.
The CEO of Ripple Labs, Brad Garlinghouse, has been in the news a lot in recent months due to his involvement in the SEC case against the San Francisco-based blockchain company. Brad Garlinghouse addressed his potential hopes for Bitcoin and Ethereum in a recent interview with Bloomberg.
The case was filed at an inopportune time.
The timing of the aforementioned lawsuit, according to Garlinghouse, is inexplicable, particularly because XRP, the crypto-asset at issue, has been trading on the market for eight years. Indeed, the Ripple CEO remarked on the irony of former SEC Chair Jay Clayton choosing to go after the blockchain firm the day before his term ended, noting that this was a decision that drew a lot of flak. The CEO went on to say that the United States is the only country on the planet that considers XRP to be a defense. He concluded by emphasizing the importance of crypto-regulatory clarification in the region.
The CEO of Ripple speaks out about bitcoin’s high energy use.
The CEO of Ripple also expressed hope that as the SEC transitions to a new administration, there will be an opportunity to reopen some of those discussions and add more regulatory clarity to the crypto industry. When discussing the most famous cryptocurrency, bitcoin, Ripple CEO said that as Bitcoin’s price rises, so does the energy usage and carbon footprint of PoW mining, which is used to verify transactions. 1 Bitcoin exchange is the same as burning 75 gallons of fuel. Bitcoin has recently received a lot of flak for its energy consumption.