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Ripple Expects SEC Lawsuit Over XRP to Conclude Next Year, CEO Says ‘We’re Seeing Pretty Good Progress’

News Feed - 2021-11-24 09:11:44

Ripple Expects SEC Lawsuit Over XRP to Conclude Next Year, CEO Says "We"re Seeing Pretty Good Progress"


Ripple CEO Brad Garlinghouse says that he expects the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC) to come to a conclusion next year. The executive explained: “We’re seeing pretty good progress despite a slow-moving judicial process.” Ripple’s CEO Is Hopeful the SEC’s Lawsuit Over XRP Will Conclude Next Year


Ripple CEO Brad Garlinghouse discussed the lawsuit over XRP by the U.S. Securities and Exchange Commission (SEC) in an interview with CNBC Monday.


Garlinghouse said he expects the lawsuit to reach a conclusion next year, elaborating: 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,” the Ripple executive added.


The SEC sued Ripple, Garlinghouse, and co-founder Christian Larsen in December last year, alleging that they sold $1.3 billion worth of the XRP tokens in an unregistered securities offering. However, Ripple and the executives argue that XRP should not be considered a security.


Amid the lawsuit with the SEC, Ripple published a proposal for a regulatory framework for cryptocurrencies last week called “A Real Approach to Cryptocurrency Regulation.” Garlinghouse explained that the “proposed policy framework is a three-pronged approach of what can be done now,” noting that it is the result of Ripple’s “direct interactions with regulators and bipartisan policymakers.” The Ripple CEO has repeatedly said that the SEC has given no clarity on crypto regulation.


Garlinghouse is not the only one who sees the SEC v. Ripple case making good progress. In October, the CEO of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, said that the SEC v. Ripple case “seems to be going better than expected.” Coinbase delisted XRP in January, soon after the SEC launched its lawsuit against Ripple and the two executives. Tags in this story Brad Garlinghouse, Christian Larsen, Ripple, sec lawsuit, sec lawsuit concludes, sec lawsuit ends, sec lawsuit over xrp, sec v ripple, SEC vs Ripple, sec vs xrp, XRP


What do you think will be the outcome of the SEC lawsuit against Ripple and its executives over XRP? Let us know in the comments section below. Crypto Is Driven by Extraordinary Consumer and Investor Demand, Says Australian Regulator REGULATION | 5 hours ago IMF Warns El Salvador Against Using Bitcoin as Legal Tender After "Bitcoin City" Announcement REGULATION | 15 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleNFL Football Star Odell Beckham Jr Giving Away $1 Million in Bitcoin and Will Take His New Salary in BTC Next articleCrypto Is Driven by Extraordinary Consumer and Investor Demand, Says Australian Regulator Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItTwitter Sets up Dedicated Team to Focus on Cryptocurrency and Decentralized Apps


Twitter has set up a team to focus on "crypto, blockchains, and other decentralized technologies — including and going beyond cryptocurrencies.” Initially, the team will explore how it can "support the growing interest among creators to use decentralized apps to ... read more.US ‘Kidnapped’ Russian Crypto Businessman Denis Dubnikov, Lawyer Says Terra to Burn $4.5 Billion Worth of LUNA From Community Pool 13,000 BTC Moved in 20 Months — 2010 Mystery Miner Transfers Another String of 20 Decade-Old Block Rewards Ripple Launching Liquidity Hub Despite SEC Lawsuit Over XRP

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