According to Ripple CEO Brad Garlinghouse, his company is approaching the end of its long legal battle with the SEC.
According to Ripple CEO Brad Garlinghouse, his company is approaching the end of its long legal battle with the SEC.
“Why did the SEC go after XRP first…? You know, in some ways, you look at that now and say we’re almost at the end of that journey.”
Garlinghouse doesn’t know the exact date the lawsuit will be settled, but he jokingly named Sept. 21 as “the end of summer.”
The judge will make the decision when she makes the decision. My estimate is sometime before the end of summer. Someone asked me if it would be at the end of August. I pointed out that September 21 is the end of summer, so I don’t know,” Garlinghouse said.
Alex DovbnyaThe Ripple CEO also highlighted XRP’s unique position in the US due to regulatory clarity. “XRP in the US is one of the few things we can say definitively is not a security with ETH, I don’t know how this will play out,” he said.
“The US market is still frankly lagging, you know, in the US regulatory environment, although Ripple is at the tail end of that,” Garlinghouse added. The head of Ripple has accused SEC Chairman Gary Gensler, as head of the SEC, of being “pretty hostile” towards cryptocurrencies.
Alex DovbnyaRipple CTO David Schwartz has indicated that the US market continues to be an important and critical piece, but at a global level, regulatory challenges are much more manageable and business outside the US is excellent, according to the executive.
Ripple is currently embroiled in a dispute with the US Securities and Exchange Commission over the size of the fines and penalties the San Francisco-based company is supposed to pay.
On May 14, Ripple filed a motion to seal certain documents filed in connection with the SEC’s motion for judgment and remedies.
