Mark Weaden
Ripple CEO Brad Garlinghouse expressed confidence in the company's legal victory against the U.S. Securities and Exchange Commission (SEC) during a press conference at Korea Blockchain Week 2024 in Seoul. Despite the SEC's 60-day window to appeal the August 7 decision, Garlinghouse believes there is no credible way for the regulator to challenge the core ruling that XRP is not inherently a security.
Ripple's Legal Victory and Future Outlook
Garlinghouse hopes this judgment will mark the end of the SEC's aggressive stance toward cryptocurrencies in the U.S. He anticipates more constructive engagement between the regulatory body and the crypto community, potentially following a change in SEC leadership after upcoming elections.
The Ripple CEO emphasized how the U.S. is currently behind in the global crypto race, stating, "What's happened around the rest of the world really is indicative of the opportunity outside and for crypto more broadly." He views this legal victory as a "speed bump" in the continued growth and adoption of crypto and blockchain technologies.
Ripple's Strategic Expansion in South Korea
Garlinghouse highlighted Ripple's focus on South Korea, citing the country's large and active retail crypto community and increasing regulatory engagement. He noted the National Pension Service's $2 billion investment in crypto companies as an example of growing institutional interest.
Ripple is strengthening its presence in South Korea and the Asia-Pacific region by pursuing business deals, expanding the XRPL Japan and Korea fund, and forming academic partnerships. The company aims to capitalize on the significant retail interest in crypto within the region, particularly in Korea and Japan, where a large portion of global XRP holdings are concentrated.
As Ripple moves forward, Garlinghouse expressed cautious optimism about the company's future, viewing the recent legal victory as a strong foundation for global expansion. He also made a lighthearted remark about potential changes in SEC leadership, indicating his belief in possible shifts within the regulatory landscape.
