• Ripple CEO Brad Garlinghouse expresses his displeasure with SEC Chairman Gary Gensler’s recent remarks on cryptocurrency regulations.
• XRP token has seen a massive surge in price, increasing by 25% in a week and 44.5% in the last 14 days.
• A pro-XRP attorney claims that Ripple executives’ constant criticism of the SEC demonstrates that the blockchain company has no intention of settling a case with them.
Ripple CEO Criticizes SEC
Ripple CEO Brad Garlinghouse expressed his “disappointment” with Securities and Exchange Commission (SEC) Chairman Gary Gensler’s recent remarks about the crypto regulations. Earlier today, Garlinghouse urged American lawmakers to pay attention and consider legislation for the cryptocurrency industry on Twitter. The SEC chair stated before the House Appropriations Committee hearing on Wednesday that the existing securities laws are sufficient to regulate cryptocurrencies and that no new laws are required. While the “XRP community awaits Ripple’s wins against the SEC lawsuit,” Garlinghouse roasted the SEC chair in his recent tweets. According to Brad’s tweet, the SEC chairman asserts that he decides what qualifies as a security rather than relying on the laws from which his agency derives its authority. Also, he claimed that Gensler acted in an “autocratic manner.” Following that, a pro-XRP attorney pointed out that Ripple executives’ constant criticism of the SEC demonstrates that the blockchain company has no intention of settling a Ripple Vs SEC case.
XRP Price Surge
Recently, XRP token has buzzed on social media with massive price surges. At the time of writing, XRP traded at $0.532, with a 24-hour trading volume of $2 billion and a market cap of $27 billion. XRP soared over 25% in a week and 44.5% in the last 14 days but is currently declining by around 2%.
Will Lawsuit Be Settled?
The current situation shows that it appears unlikely for Ripple to settle its lawsuit with The U S Securities and Exchange Commission (SEC). A pro-XRP attorney pointed out that Ripple executives’ constant criticism of The U S Securities and Exchange Commission (SEC) demonstrates this fact clearly – which leads many people to doubt if there will be any settlement between these two parties anytime soon or not .
Implications for Cryptocurrency Regulations
The ongoing legal battle between Ripple Labs Inc., its CEO Brad Garlinghouse and The U S Securities and Exchange Commission (SEC) will have implications for cryptocurrency regulations worldwide since it could set precedents regarding how digital assets should be regulated going forward . Moreover , it could also influence how regulators view other digital currencies such as Bitcoin or Ethereum .
In conclusion , despite The U S Securities & Exchange Commission’s (SEC) recent assertions about existing securities law being enough to regulate cryptocurrencies , it’s clear from comments made by both sides involved in this case – as well as from current market trends -that further regulation may still be necessary within this space . As such , we can expect more developments related to this story in coming months .