Ripple tries way to deal with SEC

brad answered questions about sec lawsuit

Ripple’s CEO Brad Garlinghouse, answered questions on Twitter yesterday. Questions asked about the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple and Garlinghouse and Ripple co-founder Chris Larsen.

SEC, as it is known, accuses Ripple and the two executives of selling $ 1.3 billion of unregistered securities. Parties will appear before the judge for the first time on Feb.

Garlinghouse said in a statement that he could not go into details but stressed that Ripple had tried to settle with the SEC and would continue to try to go down the path of settlement with the new administration.

CEO responded to claims that exchanges were paid to list XRP:

“XRP is one of the most liquid digital assets globally, with 95 per cent trading outside the US. Where Ripple’s XRP is listed, who owns it, etc. he has no control over matters. It is open source and decentralized.”

In response to criticism from the SEC about when to respond and why the company has been silent, Garlinghouse said there was a lot behind the scenes.

“We will give our first response in a few weeks. We will neither remain silent nor give up this struggle. We’re on the right side of facts and history. We look forward to the hearing and close ties with the new SEC administration as soon as it takes over.

Garlinghouse

Garlinghouse’s statements had no significant impact on the price of XRP. So far, many exchanges have decided to stop trading on XRP. These decisions will be implemented on many stock markets, especially over the next seven days. Exchanges such as Coinbase, Binance US, which operates in the United States, have decided to stop trading on XRP, while another major exchange, the Kraken, has not yet received an announcement. Kraken is still considering the matter.

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