ceo ripple does not see future of xrp in usa xrp to 80 000
the united states is not friendly towards cryptocurrencies there are several problems faced
by crypto startups in the country and this has led to the fact that the industry has lagged behind
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watch the video to the end to like and subscribe ripple ceo brad garlinghouse confirmed this in a
recent interview with cnbc he said that the biggest problem of the industry is the lack
of clarity and regulation which makes it difficult for startups to develop according to garlinghouse
the lack of clear regulation of the industry has led to the fact that several crypto and blockchain
startups have left the united states for other countries where the laws are more favorable
he even dissuades crypto entrepreneurs from creating startups in the country
there are no clear laws in the united states industry leadership is outside the states
the competitiveness of the us in these emerging markets related to cryptocurrencies and
blockchain has declined and more and more talent and investment are leaving the united states
i recommend others not to set up companies in the us because there is no clarity there he said
garlinghouse knows about regulatory issues firsthand his company ripple has been embroiled
in a lawsuit since 2020 as the sec claims that xrp is a security not a cryptocurrency this was due to
the lack of clarity in the regulations defining for example what is a cryptocurrency and what is
a security the biden administration is apparently going to change this and is working on a
regulatory framework for cryptocurrencies and this step has been highly appreciated by the crypto
community biden signed a decree on march 9 2022 which clarifies the regulation of cryptocurrencies
brad garlinghouse says that this step indicates the backwardness of the crypto industry in the
country compared to other countries that's what i've been saying for years i think the essence of
biden's decree on cryptocurrencies is to recognize this very moment as the biden administration
takes steps to introduce clear rules in the cryptocurrency industry cryptocurrencies and
businesses are likely to see moderate growth soon clarity will also lead to more crypto startups and
give americans more confidence in the industry which is necessary for mass adoption the sec
does not abandon attempts to conceal the contents of documents related to william hinman's speech
yesterday the commission filed another petition but already to a higher instance
it asks judge torres to extend the deadline for them to file objections to both decisions
of judge netburn from april 25th 2022 for 14 days the commission is trying to challenge the
decision of magistrate netburn who has already issued two orders demanding that ripple hand
over documents related to william hinman's speech in june 2018 where he announced that ether is not
a security judge netburn's latest decision on april 11th is being called a big victory for
ripple and earlier lawyer john deaton suggested that the sec would not appeal to judge torres
however the regulator decided to fight to the end in this matter most likely this is
due to the fact that this decision is not only unfavorable for the sec in the present process
but also creates a precedent for the entire industry since in future lawsuits participants
can use the court's decision and demand similar documents from government agencies
the commission insists that these documents are protected by the privilege of the consultative
process dpp and wants to collect statements about privileges in one brief this time the
sec intends to file a motion with the approval of attorney-client privilege she also wants the
redacted parts of the memos to be excluded based on the privilege of the deliberative process
the regulator claims that this extension application will not affect any other
deadlines related to the case the sec says the defendants would not want to proceed to a summary
judgment without a full decision on their motion to challenge some of the sec's claims of privilege
ripple and the sec are due to meet to discuss the schedule of the summary judgment on april 22
2022 which will show what this case will lead to it may also decide whether the trial will end with
a settlement agreement thanks to several other rulings which were a big victory for ripple the
fintech company is becoming more confident in the probability of its victory in a recent interview
with cnbc ripple ceo brad garlinghouse said that things went better than expected the trial
went very well and much better than i could have hoped when it started about 15 months ago he noted
meanwhile ripple supporters are also not giving the sec a break in their support for ripple
in addition to attorney john deaton who handled the xrp army and empower us cases against the
sec regarding ripple there is now a third force battling the sec attorney fred rispoli has filed a
class action lawsuit against former sec officials jay clayton and william hinman on behalf of xrpl
users the lawyer claims the two former members of the securities and exchange commission had a
conflict of interest in relation to ripple while working for the commission attorney jeremy hogan
says he is very surprised by the securities and exchange commissions sec decision to end the
discovery process which is the point in a lawsuit where both parties share information that would
not otherwise be known or readily available almost nothing would surprise me more than this and yes
it's a very good thing the only remaining areas of delay are the appeal regarding hinman's emails
and generally just planning the opening of the sec has been completed and this is a big step forward
hinman reports via email that hogan is referring to documents relating to former sec director
william hinman who according to ripple had a conflict of interest during his participation in
the initial stages of the lawsuit hinman also gave a speech in 2018 in which he stated that ethereum
eth is not a security at the same time the sec requested additional time to file an objection
to judge sarah netburn's decision to cancel the regulatory body's requirement to refute him
and speech as evidence hogan says the move reveals the sec strategy of delaying at all costs
today the sec is 100 in the hurt locker and the only relief is to postpone postpone postpone
that he is certainly trying absolutely unashamed in addition hogan says that the sec is weakening
its position by changing its attitude to hinman speech the regulator had previously claimed that
hyman's speech was his personal opinion now hogan says the sec is changing its position if
the securities and exchange commission can't even figure out if the speech was his personal opinion
or maybe the leadership of the entire division and they can't even figure it out in a lawsuit
with a lot of foresight how the hell is ripple supposed to know ripple xrp rebounded sharply
from strong support at zero dollars 69 indicating strong demand at lower levels bulls pushed the
price above the 50-day sma zero dollars 78 on april 15 but were unable to continue moving up
however a small plus is that the bulls are trying to keep the price above the 20-day ema the live
xrp price today is zero dollars 88 us dollars with a 24-hour trading volume of three billion seven
hundred and forty million us dollars we update our xrp to usd price in real time xrp is down zero
four percent in the last 24 hours do you think xrp will be able to win the court and restore its
former price write the answers in the comments that's it for today thank you for watching this
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