XRP lawsuit ends in June, says Ripple CEO

XRP rechtszaak alsnog afgelopen voor kerst? Rechter maakt aanpassing

Ripple (XRP) CEO Brad Garlinghouse expects his company’s long-running battle with the U.S. Securities and Exchange Commission (SEC) to be over soon, possibly as early as June this year. He also still trusts a positive outcome in the controversial lawsuit.

Judgment XRP lawsuit in June

In conversation with CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse says the judge’s verdict could come as early as June. Both parties have now gone through the entire procedure, so it is now a matter of waiting.

“We definitely expect a decision from the judge in 2023. You can’t really control when a judge makes a decision. But I am optimistic that we will have a verdict within 10 months.”

According to Garlinghouse. In addition to the great confidence that the CEO has in a positive outcome in the lawsuit, he also wants to say something about the SEC. According to Garlinghouse, the United States’ powerful financial oversight body behaved disgracefully during the case.

SEC issued no warnings?

The strangest thing, according to Garlinghouse, is that the SEC never indicated to him that XRP qualified as security, or effect, under United States law. That is basically the issue that the whole lawsuit revolves around. A security is a type of share and may not be sold to the general public in the US without the approval of the SEC.

“Not once have they told me that XRP could qualify as an asset. To then go back on that later and say that you always thought XRP was an asset, but we didn’t tell you… that doesn’t feel like a fair partnership between the public and private sectors.”

According to Garlinghouse, the SEC would do well to adopt things from more crypto-friendly countries. He spoke about the United Arab Emirates, Japan, Singapore, Switzerland and the United Kingdom, among others.


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