• Brad Garlinghouse, the CEO of Ripple, has expressed concerns regarding the U.S. Securities and Exchange Commission’s (SEC) utilization of Ripple’s XRP Markets Report in legal proceedings.
• On July 13th, the court delivered a ruling that unequivocally stated that XRP is not a security.
• This ruling shed light on the SEC’s methods, portraying it as a strategy of intimidation and misinformation, aimed at consolidating its own political prowess.
The SEC’s Use of XRP Report
Brad Garlinghouse, the CEO of Ripple, expressed serious concerns regarding the U.S. Securities and Exchange Commission’s (SEC) utilization of Ripple’s XRP Markets Report in legal proceedings. A document initially designed to foster transparency in the world of cryptocurrency has become the basis of evidence against the company itself.
Ripple’s Transparency Commitment
Garlinghouse openly declared that the company began these reports with an earnest desire to provide voluntary updates on its XRP holdings. Unfortunately, this transparency has been “used against” Ripple in the ongoing legal tussle with the SEC. While the CEO asserted that the commitment to transparency would remain steadfast, he hinted at possible alterations to the structure of future reports.
XRP Not Classified as Security
On July 13th, the court delivered a ruling that unequivocally stated that XRP is not a security. This put XRP on a pedestal alongside Bitcoin as one of the few digital assets in