{"id":155944,"date":"2021-04-29T00:30:54","date_gmt":"2021-04-28T19:00:54","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=155944"},"modified":"2024-01-30T03:00:46","modified_gmt":"2024-01-29T21:30:46","slug":"xrp-lawsuit-why-ripple-ceo-feels-really-good-about-the-progress","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/xrp-lawsuit-why-ripple-ceo-feels-really-good-about-the-progress\/","title":{"rendered":"XRP lawsuit: Why Ripple CEO &#8216;feels really good&#8217; about the progress"},"content":{"rendered":"<p>The SEC vs Ripple lawsuit is progressing inch by inch with every passing day. Brad Garlinghouse, CEO of Ripple Labs, \u201cfeels really good\u201d about the developments that have been made in court so far.<span class=\"Apple-converted-space\">\u00a0<\/span>Highlighting how other statutory bodies, including the US Treasury and DoJ, considered XRP to be a currency, he stated that the SEC\u2019s statement was \u201cpretty hard to swallow.\u201d<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>In a recent <a href=\"https:\/\/video.foxbusiness.com\/v\/6250728497001#sp=show-clips\">interview<\/a> with Fox Business, Garlinghouse stated, <span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<blockquote><p>\u201cWe had sought discovery at how and why Bitcoin and Ether weren\u2019t securities. We had sought this information even before the lawsuit.\u201d<\/p><\/blockquote>\n<p>He further questioned,<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<blockquote><p>\u201cHow were those determinations made? How can one be determined to be a security and the other not. If it is not obvious to us as experts, how could it be obvious to the industry?\u201d<\/p><\/blockquote>\n<p>Since December last year, Garlinghouse pointed out, the SEC had brought a lot of damage to XRP holders. He added,<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<blockquote><p>\u201cThe day the lawsuit was filed, $15B worth of value was driven out of the XRP ecosystem, and that affected the exact people that the SEC is empowered to protect.\u201d<\/p><\/blockquote>\n<p>Numerous projects around the world use XRP\u2019s \u2018open-source technology\u2019 in different ways, including making payments. These were instances, according to Garlinghouse, that showed how XRP was a currency rather than a security. He further highlighted how Ripple itself had used XRP as a currency to solve its cross-border payments problem.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>In one of its latest moves, the SEC <a href=\"https:\/\/www.crypto-law.us\/wp-content\/uploads\/2021\/04\/210421_SEC_Motion_-Discovery_Order.pdf\">accused<\/a> Ripple of \u201charassing\u201d them for their search for <a href=\"http:\/\/ambcrypto.com\/xrp-lawsuit-sec-responds-to-ripples-motion-to-cease-requests-to-foreign-authorities\/\">discovery<\/a> of more information. Responding to whether or not Ripple was doing so, Garlinghouse was quick to point out how it was \u201chard for a small company\u201d like Ripple to harass the regulatory body.<\/p>\n<p>The CEO also made it a point to highlight how Ripple thought it was important for their industry to have more clarity. He concluded,<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<blockquote><p>\u201cInnovation here in the United States, in some ways, is on trial. We want innovation here in the US around crypto, around blockchain to thrive.\u201d<span class=\"Apple-converted-space\">\u00a0<\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The SEC vs Ripple lawsuit is progressing inch by inch with every passing day. Brad Garlinghouse, CEO of Ripple Labs, \u201cfeels really good\u201d about the developments that have been made in court so far.\u00a0Highlighting how other statutory bodies, including the US Treasury and DoJ, considered XRP to be a currency, he stated that the SEC\u2019s<a href=\"https:\/\/ambcrypto.com\/xrp-lawsuit-why-ripple-ceo-feels-really-good-about-the-progress\/\">Continue reading <span class=\"sr-only\">&#8220;XRP lawsuit: Why Ripple CEO &#8216;feels really good&#8217; about the progress&#8221;<\/span><\/a><\/p>\n","protected":false},"author":41,"featured_media":155958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,55,4,12,20],"tags":[],"class_list":["post-155944","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-xrp-ripple-news","category-social","category-technology","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>XRP lawsuit: Why Ripple CEO &#039;feels really good&#039; about the progress - AMBCrypto<\/title>\n<meta name=\"description\" content=\"The SEC vs Ripple lawsuit is progressing inch by inch with every passing day. 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