Ripple CEO: SEC Lawsuit Over XRP ‘Has Gone Exceedingly Well’

Ripple CEO: SEC Lawsuit Over XRP ‘Has Gone Exceedingly Well’

Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'

The CEO of Ripple Labs says that the lawsuit brought by the U.S. säkerhet och utbytesprovision (SEC) against him and his company over XRPhas gone exceedingly well.He stressed: “This case is important, not just for Ripple, its important for the entire crypto industry in the United States.

Ripple och SBI samarbetar för att lansera on-demand likviditet i Japan — XRP-ökningar’s CEO Comments on SEC Lawsuit Over XRP

Ripple CEO Brad Garlinghouse discussed the SEC lawsuit over the sale of XRP during a fireside chat at the Paris Blockchain Week Summit Thursday.

USA. säkerhet och utbytesprovision sued Ripple och SBI samarbetar för att lansera on-demand likviditet i Japan — XRP-ökningar, Garlinghouse, and co-founder Chris Larsen in December 2020 over the sale of XRP, which the securities watchdog said is an unregistered security offering. Ripple has disputed the SECs findings, insisting that XRP is not a security.

Garlinghouse shared:

The lawsuit has gone exceedingly well, and much better than I could have hoped when it began about 15 months ago.

i alla fall, he noted thatthe wheels of justice move slowly.In November last year, Garlinghouse sa he expects the lawsuit to conclude this year. “Were seeing pretty good progress despite a slow-moving judicial process,” he said at the time.

Earlier this week, a judge ruled that the SEC cannot edit the contents of emails purporting to show conflicts of interest regarding how the securities regulator dealt with XRP and other crypto tokens, including ether (ETH).

Ripple is growing despite the ongoing lawsuit, Garlinghouse noted. “Were having record growth,” he remarked Thursday. In January, he sa that Ripples valuation has risen to $15 I skrivande stund, emphasizing that his companys financial position is the strongest ever despite the lawsuit over XRP.

Garlinghouse further explained at the fireside chat that if Ripple loses the lawsuit against the SEC, then most tokens trading on cryptocurrency exchanges would be similarly deemed securities and will have to register with the regulator. “Thats cost, thats friction,” the executive exclaimed, stressing:

If you determine XRP as a security of Ripple, we have to know every person that owns XRPThats an SEC requirement. You have to know all of your shareholders. Its not possible.

This case is important, not just for Ripple, its important for the entire crypto industry in the United States,” the executive opined, noting that there is a lot at stake if the SEC successfully classifies XRP as a security. “It would really be negative for crypto in the United States.

Do you think Ripple will win the lawsuit against the SEC and XRP will not be considered a security in the U.S.? Låt oss veta i kommentarfältet nedan.