The regulator's arguments are "absurd": the head of Ripple

The head of Ripple, which issues the RXP coin, made a statement about the absurdity of the judge's accusations of honest application of the law. We are talking about a three-year lawsuit of the department against Ripple.

What else did Brd Garlinghouse say

He drew attention to the fact that the Sec department made a real mess, considering itself a policeman who is fighting for cryptocurrency. At the same time, she did not have the necessary powers. As a result, users are stuck in lawsuits that start crypto projects for their acceptance by bankrupts. Along with this, the agency constantly holds press conferences.

The head of the company believes that the only way to establish clear rules and protect ordinary users is to use reasonable and objective legislation, but not forced regulation.

Recall that the agency sued Ripple back in 2020. The regulator accused the token issuer of distributing unregistered securities in the format of tokens, the amount of which amounted to approximately $ 1.3 billion. 

Only on July 13, the judge made a decision on this case. She found that the sale of coins to institutions directly is a violation of the rules of the department. However, this does not apply to retail investors on crypto exchanges.

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