The post Ripple CEO Brad Garlinghouse Suggests Earlier Engagement with US Regulators Could Have Changed XRP’s Legal Landscape appeared on BitcoinEthereumNews.com.

Ripple Labs CEO Brad Garlinghouse emphasizes the necessity for proactive engagement with U.S. regulators amidst growing regulatory scrutiny in the crypto space. Garlinghouse acknowledges that missed opportunities for dialogue with regulators have positioned Ripple and the broader crypto industry in a challenging catch-up scenario as legal actions increase. “We made a mistake by not leaning in earlier,” Garlinghouse stated during DC Fintech Week, indicating a clear shift in Ripple’s strategy towards regulatory compliance. Ripple’s CEO reflects on the need for earlier regulatory engagement as the crypto industry faces intensified legal scrutiny in the U.S., with XRP ETF prospects on the horizon. Ripple’s Regulatory Engagement and Legal Challenges In a candid discussion during DC Fintech Week, Ripple Labs CEO Brad Garlinghouse stated that the company underestimated the importance of engaging with U.S. regulators, especially in the light of recent legal challenges posed by the U.S. Securities and Exchange Commission (SEC). Garlinghouse mentioned, “I’ve made far more trips to DC in the past few years than I did in the years before that,” highlighting a shift in Ripple’s approach as it seeks to mend relations with policymakers. Impact of Regulatory Delays on the Crypto Industry The recent legal landscape has put Ripple, and particularly its cryptocurrency XRP, under scrutiny as the SEC’s regulatory actions have intensified. Earlier this year, a significant ruling concluded that XRP was sold as an unregistered security to institutional investors, while retail sales of the token were deemed compliant. This ruling, however, remains the subject of an appeal, with Ripple standing firm in its position. Garlinghouse criticized the SEC, stating that under SEC Chair Gary Gensler, the U.S. is lagging behind other countries in fostering a conducive regulatory environment for crypto. The Future of XRP: ETF Opportunities on the Horizon During his appearances, Garlinghouse expressed a strong belief…

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Filed under: News - @ October 24, 2024 3:23 am