{"id":16662,"date":"2023-01-20T03:49:44","date_gmt":"2023-01-20T03:49:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-ceo-optimistic-about-sec-lawsuit-over-xrp-says-i-feel-very-good-about-where-we-are-regulation-bitcoin-news\/"},"modified":"2023-01-20T03:49:44","modified_gmt":"2023-01-20T03:49:44","slug":"ripple-ceo-optimistic-about-sec-lawsuit-over-xrp-says-i-feel-very-good-about-where-we-are-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-ceo-optimistic-about-sec-lawsuit-over-xrp-says-i-feel-very-good-about-where-we-are-regulation-bitcoin-news\/","title":{"rendered":"Ripple CEO ‘Optimistic’ About SEC Lawsuit Over XRP \u2014 Says ‘I Feel Very Good About Where We Are’ \u2013 Regulation Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Ripple CEO Brad Garlinghouse says that he is \u201coptimistic\u201d that the Securities and Exchange Commission (SEC) lawsuit over xrp \u201cwill certainly be resolved in 2023.\u201d He added that it could even be resolved in the first half of this year. \u201cI feel very good about where we are relative to the law and the facts, the Ripple executive said.<\/strong><\/p>\n

Ripple CEO Feels \u2018Optimistic\u2019 About SEC Lawsuit<\/h2>\n

The CEO of Ripple Labs, Brad Garlinghouse, shared his view on the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the sale of XRP<\/a> in an interview with CNBC Wednesday at the World Economic Forum in Davos, Switzerland.<\/p>\n

Noting that the judges will \u201ctake however long\u201d they take, Garlinghouse said:<\/p>\n

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We\u2019re optimistic that this will certainly be resolved in 2023, and maybe the first half. So we\u2019ll see how it plays out from here. But I feel very good about where we are relative to the law and the facts.<\/p>\n<\/blockquote>\n

The SEC filed a lawsuit<\/a> against Garlinghouse, Ripple, and co-founder Chris Larsen in December 2020 over the sale of XRP<\/a> which the regulator claimed was an unregistered security offering. Ripple has maintained that XRP<\/a> is not a security. Both the SEC and Ripple submitted their final round of briefs in December last year, seeking a summary judgment of the case.<\/p>\n

The Ripple CEO said he expects a ruling to arrive \u201csometime in the coming single-digit months,\u201d adding that he doesn\u2019t expect Ripple to settle with the securities regulator.<\/p>\n

\u201cWe have always said that we would love to settle, but it requires one very important thing, and that is that, on a go-forward basis, it\u2019s clear that XRP<\/a> is not a security,\u201d Garlinghouse stressed, elaborating:<\/p>\n

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The SEC and Gary Gensler has very outwardly said he views almost all crypto as a security. And so that leaves very little space in the Venn diagram for settlement.<\/p>\n<\/blockquote>\n

SEC Chairman Gary Gensler has said on several occasions bitcoin is a commodity<\/a> but most other crypto tokens are securities<\/a>.<\/p>\n

Emphasizing the significance of the Ripple lawsuit\u2019s outcome, Garlinghouse said Wednesday: \u201cSomething I\u2019ve heard here in Davos repeatedly is how important this is, not just to Ripple \u2026 but also, really, the whole crypto industry in the United States.\u201d He added: \u201cI keep reminding people that outside the United States, crypto is still thriving, Ripple\u2019s still thriving, and we should make sure we\u2019re continuing to engage non-U.S. regulators as well.\u201d<\/p>\n

In a separate fireside discussion with CNBC, Garlinghouse opined:<\/p>\n

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From the beginning, I thought it was very clear that the facts were on our side, that the law was on our side \u2026 And I think as you have seen this play out, as you have seen the filings in the court, that the judge certainly is hearing our arguments.<\/p>\n<\/blockquote>\n

Who do you think will win this case, the SEC or Ripple? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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