Brad Garlinghouse, CEO of San Francisco-based Ripple company, stated that ETFs may expand beyond Bitcoin. Speaking to Bloomberg from the US media, Garlinghouse also evaluated the litigation process with the SEC.
Stating that the SEC has gradually been defeated in its own cases, Ripple CEO also stated that he does not expect a new law from Congress since it is an election year. Garlinghouse’s statements are as follows:
“SEC wanted to impose regulation by force”
The SEC’s first major crypto case was Ripple. We have called this ‘forced regulations’ since day one. The point of the case was that XRP was not an investment contract, at least for some investors. I think the SEC lost a lot of ground in the case. Maybe if a law is passed in the future, that is, if Congress steps in, then the case can literally come to an end. However, we are in an election year and it seems difficult for Congress to pass a law on this issue. However, we always expected clarity and clarity in the laws.
“Different ETFs will come in the future”
We see the investments that Bitcoin ETFs receive. Of course, there may be an XRP ETF one day, but what is really needed here is the arrival of many crypto ETFs. Investors should not be restricted to a single area. I think different ETFs will come in the future. But we don’t know when it will come. I think the arrival of such ETFs will make the market safer. I think we will see a lot of excess crypto ETFs in the future. People will invest by creating baskets of crypto ETFs.
“The European Union did it, the USA could not”
After the elections, the USA needs to take the lead again in the cryptocurrency world. The European Union consists of 27 countries and they made their decisions quickly and went ahead of us. As a single country, we could not achieve unity on this issue. “More than 20% of the US population currently has direct or indirect crypto investments, so these laws must be enacted immediately.”
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Source: https://uzmancoin.com/kripto-xrp-etf-ripple-garlinghouse/
