Brad Garlinghouse, CEO of Ripple, has said the SEC's warning to Coinbase has put the cryptocurrency exchange in a similar situation to his company.
In particular, he has said the regulator "continues the war on cryptocurrencies" and has hinted at possible cooperation between the two companies:
"If you want to go fast, go alone. If you want to go far, go with your friends."
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Ripple's general counsel, Stuart Alderoty, has also given his support to the crypto platform. He has pointed out that jurisdictions such as the UK, Singapore and Japan "have clear frameworks" for innovation to flourish. However, a diametrically opposite situation has developed in the United States:
"We are told to engage w/ the SEC in good faith...and what do we get? Enforcement actions (or threats of them) with no clarity. Their preferred method of strong arm intimidation and inconsistently applying unclear rules hurts consumers and markets in the end."
Yesterday it became known the US Securities and Exchange Commission (SEC) has threatened US-based crypto exchange Coinbase with lawsuits for launching the lending service Lend.