There is a long-running litigation between Ripple and the US Securities and Exchange Commission. From the first moment the case was brought to the agenda, there was a debate in the market whether there was a possibility of an agreement. The parties stated that this possibility is not possible in their previous statements and the moves they have implemented. But the Ripple CEO seems to have given the green light to the possibility of an agreement in his latest statement.
Ripple CEO Brad Garlinghouse said in an interview with Fox Business on September 24 that Ripple would be willing to settle with the US Securities and Exchange Commission if there was “absolute certainty” about XRP:
“To the extent that we can find a constructive way forward with the SEC, of course we want to find it. Unless there is absolute certainty about what XRP is going forward, there is no scenario for when we will agree.”
Besides, Ripple is determined to inform the market and the judge about the usefulness of XRP:
“We have a clear vision of how XRP can be an extremely powerful tool…There are many other people in the crypto community and XRP community who are doing great things with XRP.”
Also, according to Garlinghouse, the SEC’s vague statements about Ethereum indicate a lack of regulatory clarity. The authority claims that the cryptocurrency has taken a step back in its securities status:
“I think there is a lack of clarity and it continues to be.”
Talking about possible conflicts of interest, Garlinghouse added that the timing of the case is questionable:
“I get this question a lot…The timing sucks. This is not a good look.”
As we previously reported, SEC Chairman Gary Gensler compared the market to the “Wild West”, stating that not enough precautions were taken to protect investors in the cryptocurrency market. The CEO of Ripple also disagrees with the idea that the market is like the “Wild West”, although he complains about the lack of clarity:
“Crypto is regulated…SEC may seek more authority on this matter.”