Ripple CEO Brad Garlinghouse recently made some significant statements about the future of XRP in an interview with journalist Eleanor Terrett. The discussion centered on the U.S. Securities and Exchange Commission’s (SEC) ongoing legal battles with the crypto industry and the potential implications for the industry.
Garlinghouse addressed concerns about the SEC’s cross-appeal regarding the definition of an investment contract under the Securities Act. When asked about the impact on platforms like Coinbase if cryptocurrencies were considered an investment contract, Garlinghouse expressed concern about the potential for the industry to be pushed offshore if the SEC prevails in its legal battles.
The conversation also touched on the SEC’s approach to the crypto industry, with Garlinghouse criticizing the agency’s handling of the approval of the Coinbase IPO and Bitcoin ETFs. He emphasized that despite these challenges, Ripple is optimistic about its growth over the next 12 to 18 months, citing increased institutional interest after its recent Swell event.
In addition to its payment flows, Garlinghouse highlighted Ripple’s expansion into the custody and stablecoin businesses as reasons for optimism about the company’s future. However, he cautioned that there are still regulatory challenges to navigate.
Overall, Garlinghouse’s statements shed light on the complex relationship between Ripple, the SEC, and the broader crypto industry, emphasizing the need for careful navigation of regulatory challenges.
