The Ripple Labs CEO Brad Garlinghouse says the SEC does not care about those it has harmed with its XRP lawsuit.
Garlinghouse tells his large twitter following that the SEC’s lawsuit is not about upholding the law, but instead about consolidating power.
“My outrage has grown as the litigation has unfolded. There is no recourse. There is no consequence to those that brought this lawsuit. The SEC’s pursuit of a policy objective isn’t about ‘A faithful allegiance to the law.’ It’s about power.” Garlinghouse continued by stating “There is no regard for those companies and people that this approach has harmed. We all should be outraged. The SEC has clearly forgotten that the government works for the people.”
Garlinghouse also spoke about the status of XRP outside the United States where the lawsuit case continues on and confirms that many foreign firms are willing to work with Ripple Labs and are not concerned how the SEC views the cryptocurrency. “Most people outside the United States don’t really care that the SEC is suing us… I was in the Middle East last fall and we were meeting with customers… We’re meeting with the CEO of a payments company. The employee from team Ripple says, ‘Why don’t you give an update on what’s going on with Ripple?’ I start talking about the SEC.”
Garlinghouse continued by saying “After the meeting, he very delicately says to me, ‘No one gives a sh*t.’“
His point was if you’re not in the United States, the government in Abu Dhabi, the government in Switzerland, the governments in Singapore, the UK, Japan, they provided the clarity in how they view and categorize digital assets, and they don’t care that the SEC has a viewpoint pending in court.”