Ripple CEO Brad Garlinghouse is more optimistic that A long-term lawsuit against the US Securities and Exchange Commission (SEC) will have a positive effect on global payments companies using blockchain.
speaking on the main stage Paris Blockchain Week Garlinghouse told attendees that Ripple’s ongoing case was better than he expected:
“This case went well. And it’s much better than I thought when I started 15 months ago.”
The SEC filed a lawsuit against Ripple in 2020 and its chief executives Garlinghouse and Christian Larsen for selling unregistered securities in the form of XRP.
“This case is important. It’s not just for Ripple, it’s important to the entire crypto industry in the US,” Garlinghouse said.
He added that if Ripple loses the case, a precedent might be set to see that most of the tokens on cryptocurrency exchanges are recognized as “securities” by the SEC. United States
“If you consider XRP to be Ripple securities, we need to know everyone who owns XRP,” he said. “That’s the SEC requirement. You have to know all of your shareholders. And it is impossible.”
refer : LINK
The post CEO of Ripple reveals that lawsuits against the SEC are ongoing, appear first on Bitcoin Addict.