Brad Garlinghouse Ripple (XRP) Worried about Regulatory Clarity Community Worried about SEC

In response to WSJ:  “We shouldn’t assume we need to reinvent the regulatory regime just for crypto.”

Brad Garlinghouse expressed:  “My main takeaway from this? Jay Clayton is joining the chorus of voices saying there is & has been a lack of regulatory clarity for crypto and that stifles innovation here in the US (definitely ironic, but better late than never!)

Cryptos, like nearly any new innovative technology, can be used for good or bad purposes. The problem is that US companies seeking to be compliant and use this tech for good are left in limbo (or for Ripple, worse!) because of a lack of a clear, predictable framework.

My favorite quote from the article: We must also keep in mind the default rule in the American system: Innovation is welcome absent some legal reason to oppose it. Words to live by.”

Users in response were like:  Does anyone else find it fascinating that Brad Garlinghouse responded to the Jay Clayton WSJ article with a 3 part thread?

Clayton, former head of SEC, refused to engage with Ripple and other companies to define regulatory framework for new asset class and even sued Ripple on his last day in office, taking a cushy Bitcoin hedge fund job the next week. And now that he’s set up in the private sector, he’s being vocal about the lack of regulatory clarity? Did I get all that right?

There is lack of regulatory clarity. We failed to provide that clarity. We will sue anyone and everyone who failed to comply with the rules and regulations that we actually failed to clarify’ – some guy at SEC.

There is lack of regulatory clarity. We failed to provide that clarity. We will sue anyone and everyone who failed to comply with the rules and regulations that we actually failed to clarify’ – some guy at SEC.

Ironic, being the biggest understatement I’ve seen used.  He has a huge conflict of interests to which he should be questioned.

Yeah, how about the time when BTC and ETH got a free pass from him? Settlement coming before they make those bitcoin documents public?

Don’t pay any settlement they have nothing. They picked on the small fish.  Only the small fish fought back. Make them look stupid in front of the world.

Ripple may be small fish but their lawyers are Piranha fish and they have torn the SEC to pieces.

Totally agree.  They won’t want the corruption in the public eye, but if they get 60 day extension they will drag it out for 60 days.  So no 60-day extension.

Seriously, what does the judge see in this case? SEC is clearly clueless and is postponing the case it seems. There is no reason to prolong the inevitable, which is Ripple winning.

DOJ should already be subpoenaing those SEC BTC ETH incriminating documents.