Ripple CEO Brad Garlinghouse expects to discuss the status of the XRP token with Gary Gensler following his appointment as SEC chairman. The CEO of the company said this in an interview with Bloomberg.
Garlinghouse stressed that the lawsuit initiated by the US Securities and Exchange Commission is directed not only against Ripple, but also against the entire cryptocurrency industry.
“I hope Gary Gensler and his new team will sit down at the negotiating table and together we will discuss what can be done for Ripple and the entire community to clarify the regulation,” the head of the company said.
On January 18, 2021, US President-elect Joe Biden nominated Gensler to the post of SEC chairman. In March, he was approved by the US Senate Banking Committee.
In December 2020, the commission accused Ripple of selling unregistered securities in the form of tokens worth $ 1.3 billion. Garlinghouse and co-founder Chris Larsen were also defendants.
The CEO of the firm called the lawsuit “a terrible precedent” for the entire cryptocurrency industry, and later – “regulatory arbitrariness.” Ripple has always worked in partnership with the authorities, he said.
In February 2021, the SEC clarified the responsibilities of Garlinghouse and Larsen. The department said that they manipulated the price of the token.
Recall that in March 2021, the commission requested data from six banks on the personal financial transactions of Ripple executives over the past eight years.
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