The long-standing feud between tech company Ripple and the US Securities and Exchange Commission (SEC) is nearing its end, according to the Ripple CEO.
Brad Garlinghouse said of the progress in the case: “Despite the slow process of justice,” he predicted that the Ripple case should end in 2022, in an interview with Reuters. CNBC
“Obviously we saw good questions from the judges,” Garlinghouse said, adding to his belief that “The judge recognizes that this is not just about Ripple; But it has a broader meaning.”
Last year, the U.S. SEC charged Ripple with selling unauthorized securities in the form of XRP tokens since 2013. Ripple opposes the claim, saying XRP should not be regarded as a “supplied in the form of XRP tokens”. securities
The US SEC claims that Ripple may have been aware that XRP was classified as a securities by its legal advisors before proceeding with the token sale. and has filed a request to access the defendant’s legal advice. But the court rejected the claim by the lawyer-client.
Throughout the year, Ripple executives have shared insights into the case and its impact on the business, with Garlinghouse noting that Ripple has expanded into the Asia-Pacific region. It is unscathed by the SEC lawsuit, and the company is also considering the possibility of an initial public offering as soon as the ruling is over.
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