Ripple's legal battle with SEC costs $200 million and counting
Ripple CEO Brad Garlinghouse revealed that the company has spent $200 million defending itself against a lawsuit brought by the United States Securities Exchange Commission (SEC). He made this statement during a fireside chat at the Dubai Fintech Summit, highlighting the differences in crypto regulation progress between the U.S., the UAE, and Europe.
Garlinghouse expressed disappointment in the U.S. falling behind in cryptocurrency regulations compared to the UAE and the recent European markets in crypto assets (MICA) bill. He criticized the U.S. for putting politics ahead of policy and shared that he now advises entrepreneurs against starting their businesses in the United States due to the regulatory environment. The Ripple CEO believes that many U.S.-based and public companies would agree with this sentiment.
As the legal battle with the SEC continues, Ripple's defense expenses continue to rise, reflecting the ongoing challenges faced by companies in the cryptocurrency space operating in the U.S.
As the legal battle with the SEC continues, Ripple's defense expenses continue to rise, reflecting the ongoing challenges faced by companies in the cryptocurrency space operating in the U.S.
