According to Ripple CEO Brad Garlinghouse, who spoke at the Paris Blockchain Week, the continuing dispute with the Securities and Exchange Commission is doing really well.
In recent months, Ripple CEO Brad Garlinghouse has expressed increasing confidence that the blockchain-based global payments company’s long-running battle with the Securities and Exchange Commission (SEC) will result in a favorable resolution.
The SEC filed a lawsuit against Ripple and its top executives Brad Garlinghouse and Christian Larsen in 2020, accusing them of marketing unregistered securities in the form of XRP.
Garlinghouse assured those in attendance that Ripple’s defense in the ongoing case was developing better than he had anticipated.
The SEC’s request to reconsider withholding papers under privilege was denied by Presiding Judge Sarah Netburn, and a RippleNet community lawyer declared that Ripple had gained a “very big success” against the SEC.
There are records associated with an interview with former Securities and Exchange Commission (SEC) director William Hinman, in which he indicated that Bitcoin (BTC) and Ethereum (ETH) are not securities.
In addition, Garlinghouse stated that “this litigation is crucial not only for Ripple, but for the entire cryptocurrency economy in the United States.”
The SEC may set a precedent if Ripple loses the lawsuit, according to him, with the SEC designating the vast majority of cryptocurrency tokens sold on exchanges as “securities.”
Will XRP Price Skyrocket
“The lawsuit has gone really well, far better than I could have imagined when it was first filed about 15 months ago,” says the plaintiff.
Ripple is most likely to Win the SEC Case and That could be really great for Ripple and The Whole Crypto Industry as well, XRP Price Will Most likely see Huge Price Jump if the Case turns out be on Ripple Favor.