Brad Garlinghouse shared about the Ripple & SEC relationship and noted that the company was betrayed by the SEC agency, despite its team approaching the regulators to get clarity on the laws & rules.
Ripple is a San Francisco-based Fintech company. In 2020, the United States Securities and Exchange Commission (SEC) initiated a lawsuit against the Ripple executives & XRP token. Through the lawsuit, the SEC agency claimed that the XRP token is an unregistered security and also Ripple is a common enterprise and also Ripple executives violated the securities Act as they sold unregistered securities publicly to raise $1.3 billion. For more than 2 years, a legal fight between Ripple & SEC has been going on and legal experts believe that 2023 will surely end with the XRP lawsuit judgement.
On 18 Jan 2023, Brad Garlinghouse, CEO of Ripple, appeared at the World Economic Forum in Davos, Switzerland. In the interview, Ripple CEO said that the Ripple vs SEC lawsuit result may come in June of this year.
“We expect a decision from a judge certainly in 2023. You don’t have control over when a judge makes their decisions. But I’m optimistic that sometime in the coming single-digit months we’ll have closure there.”
The majority of the people believe that the court will take Ripple’s side in this case, as the roof-based facts are showing. Garlinghouse said that Ripple was betrayed by the SEC agency because Ripple faced direct lawsuit action despite its efforts of collaboration with the regulatory body.
More importantly, Ripple CEO said that the XRP Lawsuit judgement will impose a very big impact on the Crypto sector but at the same time, he confirmed that he will settle with the SEC agency if and only if SEC will admit that XRP is not a security.
As a suggestion, Ripple CEO suggested the SEC agency take note from those countries which are friendly toward the Crypto sector and they are not degrading the Crypto & blockchain innovations.