Ripple

Ripple Co-Founder Hints When Ripple Vs SEC Lawsuit Might End!

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Brad Garlinghouse, CEO of Ripple Labs, recently addressed the panelists at the DC Fintech Week conference. 

He mentioned that he anticipates the lawsuit against his company to be resolved in the first half of 2023, but acknowledged that it was difficult to forecast the outcome. 

The protracted legal dispute between ripple and the US Securities and Exchange Commission, according to Garlinghouse, is about to come to a close, although it could still take many months.

The SEC and XRP case was initially filed in DEC 2020. The SEC accused the company of selling unregistered securities using its XRP coin in December 2020. According to the CEO, it has been a protracted dispute and is a leading example for the American and global cryptocurrency industries. 

“Federal judges operate at their own pace”, he said, before adding, “Potentially, it could take longer than that, but realistically, we’re talking about 3-4 months.”

In his 2018 speech, william hinman , the director of the SEC Division, claimed that ethereum was not a security and that the judge had six times ordered the SEC to provide the information; Garlinghouse used this as a reference. On September 29, Ripple eventually achieved a minor success when these elusive transcripts were ultimately turned over.

Hoskinson Faces Backlash

charles hoskinson , the founder of cardano , has retaliated after receiving criticism from the XRP Army, a group of Ripple supporters well-known online. On October 11, he stated in a video:

The overwhelming backlash I experienced after a single, out-of-context remark “came as a big surprise.”
The remark was made in reference to claims circulating in the XRP camp about a “financial conspiracy” involving the SEC and the co-founders of Ethereum. Many proponents of Ripple, including brad garlinghouse , think the regulator unfairly favoured Ether over XRP at the time because it wasn’t viewed as a security, whereas the regulator only targeted Ripple.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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