During the DC Fintech Week virtual conference, Ripple CEO Brad Garlinghouse stated that the U.S. Securities and Exchange Commission (SEC) has allowed the leading altcoin to surpass XRP as a result of the regulatory clarity it has provided Ether, the second largest crypto.
Ripple CEO: ETH boom provided regulatory clarity
Speaking at the recent DC Fintech Week conference, Ripple CEO Garlinghouse talked about the regulatory clarity provided to the altcoin Ethereum, which is in the leading position by market cap, “Formerly, XRP was the second most valuable crypto asset. When the SEC granted ETH access, ETH clearly exploded… That clarity helped.”
Garlinghouse adds that market forces should determine winners and losers rather than regulators. cryptocoin.com As we reported, in December 2017, XRP was the second largest crypto but has since dropped to seventh place. Ether is now (and for a long time) in second place, with market cap recently surpassing banking giant JPMorgan.
Garlinghouse criticized Gary Gensler for refusing to answer whether the rival cryptocurrency is a security, adding that current securities laws are outdated. He also praised the “Twitter detectives” who were busy investigating the SEC’s case against Ripple. The Ripple executive reiterated his oft-repeated claim about the lack of clarity in the US and said, “We are growing much more outside of the United States.”
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