Ripple CEO Reveals Surprising News on Court Case

Ripple CEO Reveals Surprising News on Court Case


Ripple CEO Brad Garlinghouse expects a court ruling on the SEC lawsuit against Ripple “in weeks, not months,” which could have significant implications for the regulation of digital assets in the US.

Ripple Labs Chief Executive Officer, Brad Garlinghouse, has recently indicated that he expects a court ruling on the lawsuit brought by the United States Securities and Exchange Commission (SEC) against Ripple “in weeks, not months.” Garlinghouse commented in an interview during the “Redefine Tomorrow 2023” summit.

The SEC sued Ripple in 2020, alleging that the company failed to register the XRP Ripple (XRP) digital currency as a security and raised over $1.3 Billion through unregistered, ongoing digital investment sales. The company has rejected the SEC’s states and has claimed that XRP Ripple (XRP) is a currency, not a security.

Ripple CEO Expects Favorable Court Decision 

Garlinghouse likewise revealed that 95 percent of Ripple’s customers are non- United States, and the company has seen much growth. He also mentioned that given the regulatory backdrop if he could go back in time and establish the company once more, he would not do it in the US.

Ripple has been fighting hard against the SEC’s states, with Garlinghouse and co- founder Chris Larsen filing a motion to dismiss the case in March. Ripple has claimed that the SEC’s case is according to a flawed legal theory and that XRP Ripple (XRP) is not a security but a currency that operates independently of Ripple.

The case has been contentious, with Ripple accusing the SEC of causing “multi- Billion dollar losses” to XRP Ripple (XRP) holders by filing its lawsuit. The SEC, on the other hand, has accused Ripple of engaging in ongoing illegal securities offerings.

The industry of digital currency eagerly awaits the case’s outcome, as it  can potentially significantly affect how digital assets are regulated in the United States. If the court regulations in favor of the SEC, it  can potentially set a precedent for other digital currencies to be treated as securities, subjecting them to greater regulatory oversight.

On the other hand, if the court regulations in favor of Ripple, it  can potentially provide greater clarity for the industry of digital currency and pave the way for greater adoption of digital assets.

On March Second, Ripple Labs CEO expressed his views on the United States Securities and Exchange Commission’s lawsuit against the company in an interview with Bloomberg Television. Garlinghouse was known the case “pivotal for the whole industry” and expressed his hope for a decision on the case this year.

Garlinghouse reiterated this position in the Bloomberg interview, stating that XRP Ripple (XRP) is not a security and that clearer regulations for cryptocurrency in the United States must be clarified. He likewise claimed that the SEC’s recent boost  in cryptocurrency enforcement actions keeps the United States behind other countries in establishing productive cryptocurrency regulation.

Garlinghouse’s statement that he expects a ruling in the next few weeks is being interpreted by some in the digital currency community as a sign that he expects a favorable decision by the court. If this is the case, it would suggest that Ripple’s arguments are being taken seriously by the court and that the SEC’s case is flawed.

Featured image from Unsplash, chart from TradingView.com 



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