Ripple CEO Brad Garlinghouse has recently commented on the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC). In an interview with CNBC, Garlinghouse stated that he does not believe a settlement will be reached with the SEC in the lawsuit over the alleged illegal sale of XRP as a security.
The lawsuit, which was filed by the SEC in December 2020, accuses Ripple of conducting an unregistered securities offering of XRP worth $1.3 billion. Ripple and its CEO Brad Garlinghouse and co-founder Chris Larsen have denied the allegations and are fighting the case in court.
Outcome this Year
In the interview, Garlinghouse stated that he believes the outcome of the case will be determined this year, and that he is confident in Ripple’s legal position. He also highlighted the importance of the case for the wider cryptocurrency industry, stating that a favorable outcome for Ripple would set a positive precedent for other digital assets that may be deemed as securities..
The lawsuit has had a significant impact on the price of XRP, with the digital asset losing over 80% of its value since the SEC’s announcement. Despite this, Garlinghouse stated that Ripple remains committed to the XRP ecosystem and will continue to support it, regardless of the outcome of the lawsuit.
In conclusion, Ripple CEO Brad Garlinghouse has recently commented on the ongoing legal battle between Ripple and the SEC, stating that he does not believe a settlement will be reached, and that the outcome of the case is likely to be determined this year. He also highlighted the importance of the case for the wider cryptocurrency industry, and the company’s commitment to the XRP ecosystem
SEC Commissioner Acknowledges Misleading Evaluation of XRP Under the Howey Test
What is a Data Room and Why is it Essential for Your Due Diligence Process?
$226 Million Worth of XRP are Sold by Ripple in Q4 2022, as the ODL Sees Significant Growth
CryptoLaw Founder John E. Deaton, Highlights a few Key Factors that May Influence Court’s Decision on Summary Briefs
A Huge Sum of XRP Tokens Transferred During the Past 24-hours, as The Coin Seems Stuck at $0.41
Recent Press Release
5 Crypto Platforms That Pay You To Enhance Your Crypto Knowledge
The cryptocurrency market is growing at breakneck speed and so is the demand for knowledgeable crypto enthusiasts. With cryptocurrencies being...
The Beginners Guide to Bitcoin Buyer : What You Need to
Bitcoin is a decentralized digital currency. It is a form of digital asset that can be exchanged between individuals in...
Bitcoin and AI: 4 Benefits that Will Change the Economic World
There are essentially two key technological shifts that you just cannot overlook. The foremost is the renaissance of AI techniques,...
Listing Down the Top 5 Benefits of Trading With AI
“What fire was to the cavemen, AI is to commerce.” That is how one business stakeholder characterized how a technological...
Crucial Trading: Pool Of Luxurious Floor Coverings
David and Jannet Green from London took the foundation of Crucial Trading in 1986, a house of quality full carpets...