Ripple Vs SEC Lawsuit To See End This Year – Says CEO Brad Garlinghouse
As many countries around the world adopt various strategies, the world of cryptocurrency legislation is changing. The latest critic of the American government’s campaign against cryptocurrencies is Brad Garlinghouse, CEO of Ripple. The two-year legal battle between Ripple Labs and the US Securities and Exchange Commission is nearing its conclusion, and Garlinghouse has also given a tentative date.
On March 2, the CEO of Ripple opened up about the impending lawsuit in an interview with Bloomberg. “It’s been almost two and a half years since that litigation began. We’ve tried to move forward as quickly as we possibly could. The litigation was fully briefed in front of the federal court, and we do expect a decision certainly in 2023. This is going to be pivotal for the whole industry,” Garlinghouse said. “
He also clarified why many industry leaders have backed Ripple over the past two years.”So, I think people have come to realize that the SEC bringing the case against Ripple was not really the case about Ripple or about XRP. It was really about how the SEC was playing offense and attacking the whole industry…Now, that is widely understood,” he added.
It’s interesting how drama continues escalating in the XRP lawsuit; the most recent one involved a motion filed by Dr.Roslyn Layton, a Forbes journalist. According to reports, Layton asked Southern District of New York Judge Analisa Torres for access to the contentious paper that former SEC executive William Hinman had produced. Layton has spent considerable time explaining the significance of Hinman’s remarks to the cryptocurrency industry and how it supported the petition.
The Securities and Exchange Commission and other regulators have been keeping a careful eye on large crypto-related explosions during the past several months. Nonetheless, Garlinghouse gave some encouraging updates for the cryptocurrency market despite the strong regulatory attitudes.