Ripple CEO believes SEC case will be closed next year
Brad Garlinghouse, CEO of Ripple, has given an update on the SEC case stating that good progress is being made.
Brad Garlinghouse appears to be hopeful
Garlinghouse expects that the case, which involves XRP, will likely be concluded next year. "We're seeing pretty good progress, despite a slow-moving judicial process. Clearly, we're seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple. This will have broader implications," Garlinghouse said.The SEC is concerned about Ripple's ties to XRP, accusing the company and its executives of selling $1.3 billion worth of tokens in an unregistered securities offering. The company has vehemently denied that this was an ICO and has generally defended itself against SEC's allegations.
One of the most high-profile cases in the crypto industry
Ripple's legal team has also stated that it has no plans to settle with SEC. In any case, a settlement next year would be a massive relief for the crypto industry. The lawsuit is one of the most high-profile cases in the market. It has frequently made headlines as both the SEC and Ripple have made headlines with their depositions, motions, and tenacity.Both SEC and Ripple have aggressively pursued their cases. Recently, Ripple's attorneys submitted extensive evidence, and the company filed a letter alleging that SEC was negligent in processing regulatory filings. The company has stated that an IPO is very likely once the process is complete. Ripple also announced that it will help develop a digital pound CBDC in the United Kingdom and the company launched a $250 million Creator Fund to support non-fungible token (NFT) projects building on the XRP Ledger.
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