Ripple CEO confidently about the SEC case solution this year
Ripple CEO confidently about the SEC case solution this year
The long, lengthy struggle between Fintech company Ripple and the US Securities and Exchange Commission could come to a conclusion, according to the company's CEO.
In a conversation with CNBC at the World Economic Forum in Davos, Switzerland, on January 18, Garlinghouse said that the judges would probably not rush a resolution, and added:
"We are optimistic that this will certainly be solved in 2023 and maybe [in] the first half. So we will see how it plays from here. But I have a very good feeling where we are in relation to the law and the facts."
my opinion of Davos 2023 - I honestly think that it is healthy to see the change as Krypto has shown this year. People focus on the benefits and how these technologies solve real problems - the only way to get the industry progress. Great to catch up @arjunkharpal , @Cnbcjou ! https://t.co/sns4px5q3o
- Brad Garlinghouse (@bgarlinghouse) 18. January 2023
ripple The case could soon end
The lawsuit initiated by the SEC began in 2020 when the supervisory authority accused Ripple and its managers to sell non -registered securities.
Two years later, in December 2022, Ripple and the SEC submitted their last vernacle to receive a summary judgment on the case. They accused each other of manipulated the law.
The judge could make a decision that could include an out -of -court settlement and could avoid legal proceedings. Garlinghouse said that he would expect such a judgment "at some point in the coming months", possibly already in June.
"We always said that we would like to reach an agreement, but it requires a very important thing, and that is that it is clear that XRP is not a security."
The Sec Acht Gensler claimed that XRP and the majority of all crypto-assets are securities. Therefore, in his opinion you have to register and follow the same rules as stock exchange brokers.
"This leaves very little space in the Venn diagram," commented the Ripple Executive about Gensler's short-sighted views of Krypto.
Gensler has also indicated that Ethereum is a security due to its staking mechanism, which means that the "investing public expects profits based on the efforts of others".
Garlinghouse emphasized that a negative result for Ripple will affect the entire crypto industry and force companies to leave the country.
"What I have heard here in Davos is how important it is not only to be ripple ... but also really the entire crypto industry in the United States."
XRP price view
rippledas native token from the focus of the case has lost 2.1 % that day. According to Coingecko, XRP was traded at $ 0.379 at the time of writing this article.
The cross -border payments Coin has not experienced a big rally like his brothers because he only increased 9 % last week. In addition, XRP is still 89 % below its all -time high of January 2018.
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