Brad Garlinghouse, CEO of Ripple, said that the SEC’s lawsuit against Ripple has put the regulator in a bind on the industry as a whole.
Ripple CEO Brad Garlinghouse said that due to these circumstances, the crypto industry has already begun to move outside of the United States. Garlinghouse also believes that the SEC’s stance is not healthy.
Ripple CEO Brad Garlinghouse: The Industry Has Already Started Moving Outside The US
The Ripple CEO has suggested that there is no healthy way to regulate an industry with the practices of the United States Securities and Exchange Commission (SEC) and may make the US a less attractive place for crypto companies.
Brad Garlinghouse, CEO of blockchain-based digital payments network Ripple, said in an interview with Bloomberg on March 3 that the SEC’s regulatory approach severely jeopardizes the U.S.’s opportunity to become the hub for the next evolution of blockchain and crypto.
Garlinghouse stated that the SEC’s case against Ripple is to attack and attack the entire industry, adding that if the SEC can win, there will be many other lawsuits along with it.
He suggested that the crypto industry is already starting to expand outside the US, given that the crypto regulatory process is behind other countries such as Australia, UK, Japan, Singapore, and Switzerland.
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