Coinbase CEO Brian Armstrong says the SEC v. Ripple case “appears to be going higher than anticipated.” He added that the U.S. Securities and Exchange Commission “is realizing that attacking crypto is politically unpopular.”
Coinbase’s CEO on the Ripple Lawsuit, SEC Attacking Crypto
The CEO of the Nasdaq-listed cryptocurrency trade Coinbase, Brian Armstrong, commented on the enforcement motion towards Ripple Labs by the U.S. Securities and Exchange Commission (SEC) Monday. Referencing a Forbes article titled “The crypto rebellion the SEC didn’t see coming,” he tweeted:
The Ripple case appears to be going higher than anticipated. Meanwhile, the SEC is realizing that attacking crypto is politically unpopular (as a result of it harms customers).
“The irony is that the folks they’re supposedly defending are those attacking them,” the Coinbase boss added.
Ripple CEO Brad Garlinghouse has made the same assertion relating to the SEC. Noting that the regulator is refusing to offer a transparent framework for crypto, he mentioned: “Instead of working with the trade, the SEC is utilizing their conferences with corporations as lead technology for his or her enforcement actions.” He added that many XRP holders have filed a class-action lawsuit towards the SEC, emphasizing, “These are the precise folks the SEC is meant to be defending.”
Several folks on Twitter expressed shock to see Armstrong tweeting a optimistic remark about Ripple. Many took his assertion as a bullish signal that the value of XRP will quickly pump.
Some folks suspect that Coinbase could also be relisting XRP quickly. “Sounds like Brian Armstrong and Coinbase needs to be on the point of relist XRP,” one particular person tweeted. However, some are nonetheless skeptical, arguing that Coinbase is not going to relist XRP till the lawsuit is over. Coinbase delisted XRP in January, quickly after the SEC filed a lawsuit towards Ripple Labs and its executives, CEO Garlinghouse and co-founder Chris Larsen.
The Nasdaq-listed firm itself not too long ago bumped into bother with the securities watchdog when it tried to launch a lending program. The trade mentioned the product with the SEC however was threatened with authorized motion if it proceeded with the launch. This prompted Coinbase to shelve the product.
What do you consider Coinbase CEO Brian Armstrong’s touch upon Ripple? Let us know within the feedback part beneath.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational functions solely. It will not be a direct supply or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, providers, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, instantly or not directly, for any harm or loss prompted or alleged to be brought on by or in reference to using or reliance on any content material, items or providers talked about on this article.