Coinbase CEO Brian Armstrong said the SEC vs. Ripple case “seems to be going better than expected.” He added that the US Securities and Exchange Commission “understands that crypto attacks are politically unpopular.”
Coinbase CEO Ripple in case, SEC attacking crypto
Brian Armstrong, CEO of Nasdaq-listed cryptocurrency exchange Coinbase, on Monday commented on enforcement action against Ripple Labs by the U.S. Securities and Exchange Commission (SEC). “The SEC did not see a crypto revolt,” he tweeted, referring to a Forbes article:
The Ripple case seems to be going better than expected. Meanwhile, the SEC is realizing that crypto attacks are politically unpopular (because it harms customers).
Coinbase boss added, “The irony is that those they are defending are attacking them.”
Ripple CEO Brad Girlhouse made a similar statement about the SEC. Noting that the regulator is refusing to provide a clear framework for crypto, he said: “Instead of working with the industry, the SEC is using their meetings with companies as the lead generation for their enforcement action.” He added that many XRP holders have filed a class-action lawsuit against the SEC, insisting that “these are the right people to protect the SEC.”
Several people on Twitter were surprised to see Armstrong make positive comments about Ripple. Many have taken his statement that the price of XRP will rise soon as a bullish sign.
Some people doubt that Coinbase may re-list XRP soon. “Words like Brian Armstrong and Coinbase should be ready for XRP re-listing,” one person tweeted. However, some are still skeptical, arguing that Coinbase will not re-list XRP until the lawsuit is settled. Coinbase listed XRP in January, shortly after SEC filed a lawsuit against Ripple Labs and its executive, CEO Girlinghouse and co-founder Chris Larsen.
The Nasdaq-listed company recently ran into problems with the Securities Watchdog when it tried to launch a lending program. The exchange has discussed the product with the SEC but was threatened with legal action if it went ahead with the launch. As a result, Coinbase has stuck to the product.
What do you think of Coinbase CEO Brian Armstrong’s Ripple comments? Let us know in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or offer request to buy or sell, or a recommendation or approval of any product, service or organization. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The Company or the author is not directly or indirectly liable for any loss or damage caused by or in connection with the use or reliance on any content, product or service referred to in this article.