Ripple CEO Brad Garlinghouse believes that the Securities and Exchange Commission’s (SEC) lawsuit over xrp “will be answered in the first half of next year. xrp is a security While maintaining that it is not, the executive stressed that the lawsuit is “about the entire industry” and that “everyone recognizes how important this is.”
Ripple’s CEO expects an answer in the first half of next year
Ripple CEO Brad Garlinghouse talked about the timeframe of the U.S. Securities and Exchange Commission (SEC) lawsuit over thesale, introducing XRP during a DC Fintech Week event, Bloomberg reported Tuesday.
While acknowledging that it is difficult to predict the pace of litigation, Garlinghouse said.
I think we will have an answer in the first half of next year. Whether that is the first quarter or the second quarter, we will see.
Garlinghouse further said Tuesday that Ripple would consider a settlement with the SEC if regulatorssaid XRP is not a security. The executive added that theXRPcase is about XRPis “about the whole industry.”
We all agree how important this is.
Garlinghouse noted that Ripple’s business in the U.S. is limited, saying, “By all accounts,XRP has no liquidity in the U.S.”
The SEC suedRipple, Garlinghouse, and co-founder Chris Larsen, claiming that in December 2020, they raised more than $1.3 billion through an unregistered, ongoing digital asset securities offering. of XRP. Ripple then filed a motion to dismiss the lawsuit, claiming that theXRP tokens were unregistered.51} XRPtokens are not securities. Meanwhile, the SEC also asked the court to rule in its favor without a trial.
In July, Garlinghouse stated, ” I think the SEC has overstepped massively … I think they see this gray area and they’re like, ‘Hey, we’re going in.'” The Ripple boss restated.” It’s frustrating that it’s taking this long. I think there are a lot of companies that understand how important this is to the industry as a whole.”
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