Brad Garlinghouse is the Ripple CEO and expects that the U.S Securities and Exchange Commission’s (SEC), lawsuit regarding XRP will be settled next year. The executive explained: “We’re seeing pretty good progress despite a slow-moving judicial process.”
Ripple’s CEO Is Hopeful the SEC’s Lawsuit Over XRP Will Conclude Next Year
Brad Garlinghouse from Ripple spoke to CNBC Monday regarding the U.S Securities and Exchange Commission (SEC).
Garlinghouse stated that he expected the lawsuit to be resolved next year.
We’re seeing pretty good progress despite a slow-moving judicial process.
“Clearly we’re seeing good questions asked by the judge. This is not only about Ripple, I believe the judge understands. This will have broader implications,” the Ripple executive added.
Ripple, Garlinghouse and Christian Larsen were sued by the SEC in December 2013. They claimed that they sold $1.3B worth of XRP tokens during an unregistered security offering. Ripple and executives claim that XRP is not a security.
Amid the lawsuit with the SEC, Ripple published a proposal for a regulatory framework for cryptocurrencies last week called “A Real Approach to Cryptocurrency Regulation.” Garlinghouse explained that the “proposed policy framework is a three-pronged approach of what can be done now,” noting that it is the result of Ripple’s “direct interactions with regulators and bipartisan policymakers.” The Ripple CEO has repeatedly said that the SEC has given no clarity on crypto regulation.
Garlinghouse, however, is not the only one to see the SEC against Ripple case moving forward. In October, the CEO of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, said that the SEC v. Ripple case “seems to be going better than expected.” Coinbase delisted XRP in January, soon after the SEC launched its lawsuit against Ripple and the two executives.
How do you predict the SEC’s verdict against Ripple, its executives and XRP? Please comment below.
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