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Ripple CEO Declares Intent To Bring XRP Battle To Supreme Court
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Ripple CEO Declares Intent To Bring XRP Battle To Supreme Court

Ronaldo Marquez
Ronaldo Marquez
1 year ago
3 mins read
Ripple

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In a recent speech at the DC Fintech Week conference, Ripple CEO Brad Garlinghouse addressed the company’s regulatory hurdles. He expressed his views on the cryptocurrency landscape in the United States. 

Ripple CEO Warns Of US Risking Market Share Loss

According to a Fortune Magazine report, Garlinghouse acknowledged during his speech that despite Ripple’s success in court against the SEC, some US banks must be more cautious about engaging meaningfully with cryptocurrencies. 

Garlinghouse attributed this reluctance to the perception that the US government and the Office of the Comptroller of the Currency (OCC) are “hostile to the crypto industry.” 

While Ripple’s court victory in July was seen as a positive development, Garlinghouse believes that the SEC’s overall approach, coupled with Chairman Gary Gensler’s characterization of crypto as the “Wild West,” is hindering the industry’s growth in the US.

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Garlinghouse emphasized that while the US has hostility towards crypto, other countries actively welcome crypto companies and investments by providing clear regulatory policies. 

As a result, the US risks losing its market share and failing to capitalize on its early advantage in the crypto space. Garlinghouse expressed his belief that the US can still become a leader in the industry but highlighted the urgency for clear and constructive regulatory frameworks to be established.

CEO Vows To Escalate Legal Battle With SEC To Supreme Court

Given the challenges faced in the US, Garlinghouse announced that Ripple would continue to expand its operations in other countries. He revealed that 80% of Ripple’s hiring in the current year will be conducted outside of the US, reflecting the company’s need to operate in more favorable regulatory environments. 

Garlinghouse emphasized the importance of creating a hospitable environment for innovation and growth, suggesting that the current hostility in the US hinders Ripple’s ability to operate effectively within the country.

During the conference, Garlinghouse expressed his willingness to escalate Ripple’s legal battle with the SEC to the Supreme Court. 

Garlinghouse stated that Ripple is prepared to pursue legal avenues until a resolution is reached. This firm stance underscores Ripple’s commitment to addressing regulatory uncertainties surrounding XRP.

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Brad Garlinghouse’s remarks at the DC Fintech Week conference shed light on the ongoing regulatory challenges faced by Ripple and the wider cryptocurrency industry in the United States. 

Despite recent court victories, Ripple encounters obstacles due to perceived hostility and a lack of clear policy guidance. Garlinghouse’s readiness to escalate the legal battle to the Supreme Court demonstrates Ripple’s determination to seek a resolution and establish a constructive regulatory framework.

As Ripple expands its operations globally, the hope remains that the US will adopt more welcoming and supportive regulations to foster innovation and maintain its competitive edge in the evolving cryptocurrency landscape.

Ripple
XRP’s sideways price action over the past hours on the daily chart. Source: XRPUSDT on TradingView.com

As of the current market update, XRP is trading at $0.6902, indicating sideways price movement over the past 24 hours. However, in the fourteen-day timeframe, the token has experienced a notable gain of 13%. 

Featured image from Shutterstock, chart from TradingView.com 

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Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

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