Former SEC chair Jay Clayton’s comments about initiating legal action only when there are substantial legal grounds have resurfaced in an interview from June 2023. He emphasized the need for clear guidelines and ensuring lawsuits can withstand judicial scrutiny. Ripple CEO Brad Garlinghouse criticized Clayton’s alleged hypocrisy, referring to a lawsuit filed by Clayton against Ripple Labs for violating securities laws by selling XRP in unregistered transactions. Clayton named Garlinghouse and Executive Chairman Chris Larsen as defendants in the $1.3 billion lawsuit.
AI Sentiment: Neutral