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Brad Garlinghouse expressed: “American innovation is on the line because of SEC’s refusal to provide a clear framework for crypto. Instead of working with the industry, the SEC uses their meetings with companies as lead generation for their enforcement actions. Once the dust settles, it’ll be clear that Ripple’s on the right side of the law and the right side of history.”
Community response: Pointing to a video, one of the community members stated, “Brad, please use this YouTube Video for the case where Gary Gensler explains to his audience how XRP functions as a bridge currency.”
Brad, aren’t we past the point of a clear framework and uneven regulation at this point? This really boils down to a criminal case against Billy Boy Hinman and Jay the Snake, no? So your primary concern is clarity for XRP and the case against you and Chris.
Agree. We’re not getting it from the SEC. They are useless. Congress needs to step in and give clarity across the board for all assets.
So much respect for Liz and Charlie having the gall to take the task of reporting something so groundbreaking and evolutionary. This is reporting at its finest and placing a bright light on the eerie darkness of the SEC Gov and their wicked ways of picking winners and losers.
This is true. I’m on a project, and it isn’t clear how to structure it in a decentralized way. US investors are excluded from what the rest of the world can participate in. The innovation is here. Imagine if Apple or Microsoft, or Google were forced to launch their business overseas.
Brad, the pending legislation/clarity not impacts on American innovation and its future in the crypto space; the impacts are far-reaching from a global perspective. This case will make global history. We want to see Ripple succeed; the crypto space depends on it. No pressure.
The SEC needs to be clear on what they want and where they want this new asset class or currency to go. Brad made the key point that so many people miss, and this is the fact that is owning tokens in a POS blockchain company, which is a software company.
So, how can a token be security? It does have value, I guess. I mean, the cornflake box has some value. It’s how you get your corn flakes, but is it a currency? Same with XRP and other tokens. So, SEC decides what it is, and we can move forward.
SEC is unable to provide clarity because, if they do so, they must provide clarity that benefits ETH. Meanwhile, if they choose to benefit ETH, it will show that the SEC is providing security instead of crypto assets. This is an awkward moment for SEC.
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