XRP Lawsuit Update: Brad Garlinghouse, CEO of Ripple, facing charges of raising $1.3 billion from unregistered digital asset securities offering spoke about the possibility of settlement with the US SEC. Garlinghouse revealed the commission’s stance on the crypto market before attending the World Economic Forum Annual Meeting.
Ripple CEO staying optimistic
Ripple CEO in an interview with CNBC answered a question about the possibility of a settlement with the SEC ahead. Garlinghouse mentioned that they have always said that they would love to settle. However, this deal would depend on a very crucial aspect which is whether XRP is a security or not.
He stated that Gary Gensler, SEC Chair and the team have already expressed their views on the digital assets. They believe that almost all crypto is a security. This stance leaves very little space in a Venn diagram made by the SEC for settlement.
However, the case is now completely briefed in the court and judges know would take however long they want to. Still, Ripple CEO is trying to stay optimistic and believes that the lawsuit will be resolved in 2023 or may be in the first half. Read More XRP Lawsuit Update Here…
Garlinghouse mentioned that they have seen a significant change in posture from the SEC. This has made the Ripple team believe that they will have a resolution from the judge.
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