Ripple CEO Warns Looming XRP Lawsuit Ruling Will Have ‘Pivotal’ Implications for Crypto if SEC Wins
March 07, 2023 5090 by adminRippleCEO Brad Galinthwaite warned that if the Securities and Exchange Commission (SEC) wins the lawsuit against the three-party payment platform, it will have a negative impact on the entire login password industry.
In a new interview with Bloomberg News, Galinthwaite showed that if SEC wins a lawsuit against XRP as a form of securities, the result will have an impact on all login passwords.
->SEC's lawsuit against Ripple is in fact not just about the Ripple or XRP case. This is really about that industry and how SEC attacks and attacks all industries. Two and a half years ago, when they first started, I didn't know everyone thoroughly digested this. Today, this is widely understood.
This will be particularly important for the entire industry, and if the SEC can successfully appeal, I think there are a lot of other cases, some of which have been in the past four weeks: I think they have initiated five more inspection cases.
The RippleCEO shows how SEC has regulated the US login password industry is "abnormal".
"for me, the macroeconomic problem is that this is not a healthy way to regulate an industry. Regulate according to inspections, not what you see in other countries-she is developing policies and regulations, and she is creating a framework that allows an industry to develop trends while protecting its customers.
Galinthwaite suggests that US regulatory uncertainty will have a negative impact on the world's largest economy.
"from the perspective of the international situation, what value can Amazon platform and Google search bring to the United States if it is headquartered in the United States?
I think there is a serious risk that will not occur in the next technical evolution that surrounds the blockchain and the login password. It is now beginning to migrate outside the United States.
Customers will also suffer as a result. If you don't have the same maintenance that the US regulatory framework can provide.
I
