Ripple CEO Brad Garlinghouse has said he expects the lawsuit against XRP filed by the United States Securities and Exchange Commission (SEC) to end next year. The executive explained: “We are seeing very good progress despite a slow judicial process.
Ripple CEO hopes SEC XRP lawsuit ends next year
Ripple CEO Brad Garlinghouse discussed the U.S. Securities and Exchange Commission (SEC) lawsuit against XRP in an interview with CNBC on Monday.
Garlinghouse said he expects the lawsuit to be successful next year, adding:
We are seeing fairly good progress despite a slow judicial process.
“Obviously we see good questions asked by the judge. And I think the judge realizes it’s not just about Ripple. This will have wider implications, ”added the Ripple executive.
The SEC sued Ripple, Garlinghouse and co-founder Christian Larsen in December last year, alleging they sold $ 1.3 billion worth of XRP tokens in an unregistered securities offering. However, Ripple and the executives argue that XRP should not be viewed as security.
In the middle of the lawsuit with the SEC, Ripple last week released a proposal for a regulatory framework for cryptocurrencies titled “A Real Approach to Cryptocurrency Regulation.” Garlinghouse explained that “the proposed policy framework is a three-pronged approach to what can be done now,” noting that it is the result of Ripple’s “direct interactions with bipartisan regulators and policymakers.” The CEO of Ripple has repeatedly said that the SEC has not given any clarity on the regulation of crypto.
Garlinghouse isn’t the only one seeing SEC v. Ripple progress. In October, Brian Armstrong, CEO of Nasdaq-listed cryptocurrency exchange Brian Armstrong, said the SEC v Ripple case “appears to be going better than expected.” Coinbase deregistered XRP in January, shortly after the SEC launched its legal action against Ripple and the two executives.
What do you think will be the outcome of the SEC’s lawsuit against Ripple and its executives over XRP? Let us know in the comments section below.
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