Ripple vs SEC : Ripple CEO Displays Confidence Of Winning Lawsuit
The post Ripple vs SEC : Ripple CEO Displays Confidence Of Winning Lawsuit appeared first on Coinpedia Fintech News
The legal battle between Ripple and the Securities and Exchange Commission (SEC) in the United States is intensifying. The Ripple vs SEC case was filed in December 2020 and has been making headlines since. The lawsuit was initially based on allegations that Ripple raised $1.3 billion through illegal means and that its native coin, XRP, is a security.
Now, as per Ripple CEO Brad Garlinghouse the Ripple vs SEC lawsuit will see its end before June 2023. He claims that Ripple will come out as a winner against the SEC and believes that the lawsuit will not get into settlement. This is because as per Garlinghouse the settlement will happen only when SEC accepts XRP is not a security.
XRP Lawsuit To Settle By June
These claims were made on Jan 18, during an interview with CNBC at the World Economic Forum in Switzerland. Brad Garlinghouse’s statements come as he believes both the parties have given their complete brief about their arguments.
When Garlinghouse was questioned if Ripple will wait for the judiciary’s decision, Brad showed strong trust towards the judge’s decision. He also mentioned how important the lawsuit is for the crypto industry, especially in the US.
#Davos: Caught up with @ripple CEO @bgarlinghouse whos thinks SEC lawsuit will be resolved in the first half of this year.
“Optimistic this will certainly be resolved in 2023, in maybe the first half. I feel very good about where we are relative to the law and the facts.” $XRP pic.twitter.com/FcgerTM0Xn
— Arjun Kharpal (@ArjunKharpal) January 18, 2023
Furthermore, Ripple CEO briefed about SEC’s behavior throughout the lawsuit as he asserted that the SEC’s approach has been embarrassing. Brad then said that the SEC filed the lawsuit even when Ripple approached the agency to meet them to seek regulatory clarity.
The similar statement has also been mentioned by attorney John Deaton where he has stated that the lawsuit will not see any settlement.
I know when I predicted no settlement BEFORE a Judge Torres decision some people disagreed. In @bgarlinghouse’s words, he can’t imagine “absent a significant change in the SEC’s posture toward settlement, not receiving a ruling from Judge Torres.” https://t.co/ANA9uKAkVY
— John E Deaton (@JohnEDeaton1) January 18, 2023
Now, the Ripple vs SEC lawsuit all depends on the Judiciary’s decision during its next hearing.
Filed under: Bitcoin - @ January 19, 2023 10:30 am