Garlinghouse said that Ripple has the necessary measures in place to avert FTX-like disaster.
The regulatory pattern for the crypto sector by the SEC needs to change as per the CEO.
In his last remarks at the recently ended Ripple Swell Conference in Dubai, Ripple Labs Inc. CEO Brad Garlinghouse hinted at what he sees as the next step for the cryptocurrency sector. According to Garlinghouse, the regulatory pattern chosen over the crypto business in the U.S SEC needs to alter. This, he believes, is the sole option for producing a different outcome.
This observation is based on the three wins Ripple has racked up against the SEC since July. The charges against Ripple’s CEO and founder, Chris Larsen, for enabling the sale of XRP as an investment contract have been dismissed without prejudice following several developments, including Judge Analisa Torres’s declaration, the regulator’s refusal of an interlocutory appeal, and the unambiguous termination of the charges.
Tremendous Capital Inflow
According to Garlinghouse, the industry may take a step in the right direction with these achievements. He projected that if appropriate legislation is in place, we would “get to the next phase of enterprise crypto adoption.”
The CEO of Ripple has speculated that the events of the last year, such as the indictment of Sam Bankman-Fried (SBF), could assist the crypto ecosystem evolve towards greater intelligence. Garlinghouse specifically said that Ripple has the necessary measures in place to avert the disaster that struck FTX.
Despite his best efforts to avoid market speculation, Garlinghouse predicted that the forthcoming halving and eventual approval of a spot Bitcoin ETF would bring in tremendous capital into the sector, given the recent price increases of Bitcoin and XRP.