Ripple CEO Brad Garlinghouse expects to discuss the status of the XRP token with Gary Gensler after his appointment as SEC chair. He said this in an interview with Bloomberg.
Garlinghouse emphasized that the lawsuit initiated by the U.S. Securities and Exchange Commission is aimed not only at Ripple but at the entire cryptocurrency industry.
“I hope Gary Gensler and his new team will sit down at the negotiating table and we will discuss together what can be done for Ripple and the entire community to bring clarity to regulation,” the head of the company said.
On January 18, 2021, the then-president of the United States Joe Biden nominated Gary Gensler to be the chair of the SEC. In March, his candidacy was approved by the US Senate Banking Committee.
In December 2020, the Commission charged Ripple with selling unregistered securities in the form of $1.3 billion worth of tokens. The defendants also included Garlinghouse and co-founder Chris Larsen.
The CEO described the suit as “a terrible precedent” for the entire cryptocurrency industry, and later as “regulatory overreach.” According to him, Ripple has always worked in partnership with the authorities.
In February 2021, the SEC clarified the liability of Garlinghouse and Larsen. The agency said that they manipulated the token’s price.
Earlier in March 2021, the SEC requested data from six banks on the personal financial transactions of Ripple’s executives over the last eight years.
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