Ripple CEO Criticizes Government After Lawsuit With SEC
- Ripple CEO Brad Garlinghouse is among several who have commented on the recently disclosed Hinman docs.
- Garlinghouse would not classify them as counterfeit claims.
- He also demanded integrity in the government.
Ripple CEO Brad Garlinghouse has offered his opinions on the published Hinman papers, saying that he would not label them as ‘fraud,’ as many in the industry may be tempted to do.
Garlinghouse’s remark came in response to a tweet published by media personality Charles Gasparino, who said that the XRP community’s first reaction is to label the paper and the reason for its construction as a scam inside the Securities and Exchange Commission (SEC).
The Hinman emails were ultimately made public after more than five court rulings for the SEC to do so. Although the finding in the emails may come as a surprise to many, it will have no bearing on the current litigation since Ripple’s counsel has already been granted access to the papers.
Garlinghouse said that he would not label the papers as fraudulent since he is not a lawyer and hence does not know the specific legal threshold regarding the documents. Yet, Ripple CEO said that everyone can agree that the government must behave with honesty:
“I won’t use the ‘fraud’ word (I’m not a lawyer and I don’t know the precise legal threshold) but I think we can all agree that our government should act with integrity. The SEC – despite the industry asking for clarity – is actively approaching crypto in bad faith.”
Gasparino believes they are bureaucrats working in a bureaucracy to govern something completely unrelated to its goal. Ripple CEO responded by saying:
“Foreign to its mission!?
Their mission literally starts “Protect investors.”
How is that happening here? It’s absolutely bad faith – evidenced by the fact that the exact investors they purport to protect are trying to sue them.”
Garlinghouse went on to say that the markets regulator has been promoting the crypto business in bad faith, despite the constant need for regulatory clarification. Coinbase, one of the exchanges recently sued by the regulator, has even gone so far as to sue the commission for failing to offer the clarification it has been requesting from the authority for months.
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