Brad Garlinghouse, Head of Ripple (XRP) Labs, SEC’s RippleHe made statements on Twitter after he submitted a corrected response to the objection of ‘s summary judgment request.
Garlinghouse Highlights What The SEC Said On The First Day Its Case Against Ripple (XRP) Started
I said it on day 1, we will aggressively fight to get clear rules for the entire industry in the US
Congrats to all of Team Ripple for getting us to this point. Ripple stood strong and withstood the SEC’s onslaught. I look forward to being on the right side of justice. https://t.co/oKhKjIdTSW
— Brad Garlinghouse (@bgarlinghouse) December 2, 2022
Garlinghouse said of his tweet:
Ripple will engage aggressively with the US securities regulator to ensure that the SEC imposes clear regulatory rules for the entire crypto space in the United States.
He also congratulated Ripple’s legal team for getting to the point of submitting their summary judgment request earlier this fall.
I said it on day one, we’re going to fight aggressively to get clear rules for the entire industry in the US.
Congratulations to the entire Ripple Team for getting us to this point. Ripple stood strong and withstood the onslaught of the SEC. I look forward to being on the right side of justice.
Garlinghouse shared this in response to a tweet from Stuart Alderoty, Ripple’s general counsel. Garlinghouse also shared a tweet by attorney James Filan that provides access to the document submitted by Ripple via Dropbox.
Both parties to the lawsuit, Ripple and the SEC, filed petitions for summary judgment in September to avoid going to trial.
At the end of October, Ripple Labs filed an appeal against the SEC’s summary judgment request, stating that the regulator cannot prove that XRP token holders expect profits from Ripple’s promotional efforts.
The SEC’s lawsuit against Ripple was initiated in late December 2020 by then-president of the SEC, Jay Clayton, alleging that the Ripple-linked token XRP was in fact an unregistered security.
Clayton left the SEC the next day and, strange as it may sound, is currently working in the crypto space.
*Not investment advice.
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