CEO Brad Garlinghouse Ripple He spoke about the lawsuit claiming that his company’s XRP is a security. The CEO stated that he does not think he will reach a settlement with the US Securities and Exchange Commission (SEC).
Garlinghouse revealed some details about the case in an interview with CNBC. Garlinghouse stated that the deal can only happen if the SEC declares that XRP is not a security.
“The problem is that the SEC under Gary Gensler has expressed the view that all crypto is a security. The only way for Ripple to come to an agreement, which I’ve been saying from the beginning, the only way we can reach agreement is for it to be made clear that XRP is not a security going forward…
“The Venn diagram for reconciliation is zero, I guess, and it looks like we’re going to leave it up to the judge in the end.”
The CEO signaled that a decision on the SEC’s lawsuit against the payments company could be made later this year.
“We definitely expect a decision from the judge in 2023. However, we do not have any information on when the judge will make his decision. I am optimistic that the case will be settled in the next single-digit months.” stated as.
According to Garlinghouse, Ripple is fighting for the entire crypto market in the SEC’s lawsuit against the company.
“This case is very important both for the cryptocurrency market and for Ripple. Important for the entire industry. I think our fight was really for the whole industry in some ways.” expressed as.