Ripple CEO Brad Garlinghouse said the company is making “good progress” in its legal case with the SEC. The Ripple boss expects the case to be concluded next year. Here are the details.
CEO Brad Garlinghouse told CNBC that Ripple has made significant progress in its ongoing lawsuit with the US Securities and Exchange Commission (SEC). According to him, the case could be resolved as early as next year.
Late last year, the US Securities and Exchange Commission (SEC) sued Ripple, accusing the company of an unregistered sale of securities worth $1.3 billion. The institution claims that XRP belongs to the securities category.
In an interview with CNBC, Brad Garlinghouse revealed that Ripple has made great strides in the case. Garlinghouse said he expects the case to be concluded next year and added:
“Despite the slow litigation with the SEC, we are seeing good progress. The judge asks important questions, realizing that this is not just about Ripple. Any decision to be made will have broad implications for the entire cryptocurrency industry.”
The famous CEO also listed the countries that were pioneers in developing crypto-asset regulation: United Arab Emirates, Japan, Singapore and Switzerland. This month, the Monetary Authority of Singapore (MAS) said it will not ban cryptocurrencies.
According to Garlinghouse, other countries that have not yet passed or banned legislation for the digital asset industry should follow their example.