Ripple CEO Brad Garlinghouse reiterated his vision for the U.S. to become a global leader in blockchain and cryptocurrency, despite ongoing regulatory challenges and a new lawsuit against the company.

Garlinghouse decried the pushback the cryptocurrency industry faces from the U.S. government, stating that the industry is "behind in Washington" and has been forced into a defensive position. He attributed some of the industry's challenges to a lack of understanding among policymakers, suggesting that some government officials may be intentionally opposing the industry.

Ripple has been charged for "misleading statements" made by Garlinghouse in a 2017 interview, where he claimed to be "very, very long" on XRP, Ripple's native token, while allegedly selling millions of XRP that same year. A California federal court judge has allowed the lawsuit to proceed, calling for a jury trial rather than a summary judgment.

Ripple's ongoing case with the U.S. Securities and Exchange Commission (SEC) remains unresolved, with the SEC alleging that XRP is a security. However, the company secured a partial victory over the SEC last July when a New York federal court ruled that the sale of XRP on exchanges and through algorithms did not constitute a violation of U.S. securities law.

Despite the legal challenges, Garlinghouse reiterated his vision for the U.S. to become a global leader in blockchain and cryptocurrency, stating that Ripple wants the U.S. to be "one of the Financial Centers of this next generation technology."