Ripple (XRP) for over a year SEC It is struggling with the ongoing legal battle between them.
The outcome of the case cryptocurrency being wondered by the industry Brad Gralinghouse, CEO of RippleConsensus said in a recent interview in 2022 that by the time the case is settled, Ripple will spend more than $100 million on legal costs.
“Facts and Law aside, once the litigation process is over, Ripple will have spent more than $100 million in our legal fight with the SEC.
This fight is not just for Ripple, but for the entire cryptocurrency industry.”
“Our Struggle Is For The Entire Cryptocurrency Industry!”
Saying that there are exorbitant costs in the legal process with the SEC Ripple Its CEO stated that because of these costs, the majority of crypto businesses do not have the financial resources to file a legal appeal against the SEC.
“This is forcing crypto companies to settle with the SEC. Because companies can’t afford to fight the SEC.
As Ripple, we did not choose to settle with the SEC because this fight is very important not only for Ripple but for the entire cryptocurrency industry.”
Noting that the SEC’s crypto industry regulation strategy has been widely discussed, Brad Garinghouse said that the majority of people in the industry cryptocurrencies He said he believes regulatory clarity will eventually be again provided by the SEC.