As a long-term crypto investor with a keen interest in XRP, I find Brad Garlinghouse’s recent comments about the ongoing legal battle between Ripple and the SEC both intriguing and reassuring. The CEO’s optimism that the end of this protracted legal saga is near is a welcome sign for those of us who have watched the cryptocurrency market with bated breath, waiting for clarity on XRP’s regulatory status in the US.
As a researcher studying the latest developments in the cryptocurrency industry, I’ve come across an interesting update from Ripple CEO Brad Garlinghouse. He announced that his company is nearing the conclusion of its protracted legal dispute with the Securities and Exchange Commission (SEC).
“What was it about XRP that made the SEC take action first in this ongoing situation…? It seems we’re nearing the final stages now.”
As a researcher, I can share that Garlinghouse has expressed uncertainty about the specific resolution date for the ongoing lawsuit. In a lighthearted manner, he playfully referred to September 21st as an anticipated endpoint, which he humorously labeled as “the end of summer.”
As an analyst, I estimate that the judge will reach her verdict prior to the conclusion of the summer season. When exactly, I cannot definitively say as I was asked if it could be by the end of August. However, I clarified that the last day of summer is September 21st, so a final decision before then is still a possibility.
The CEO of Ripple has additionally highlighted XRP‘s distinct advantage in the United States due to regulatory transparency. He remarked, “XRP within the US borders is among the few points we can unequivocally assert is not a security, unlike Ethereum. I’m unsure how this situation will unfold.”
“Despite being close to the end of the US regulatory process, Ripple’s market performance can be described as lagging behind. As for the SEC, its chair, Gary Gensler, has been criticized by Ripple’s CEO, Brad Garlinghouse, for being unfriendly towards cryptocurrencies.”
According to Ripple’s CTO David Schwartz, the US market holds significant importance, yet globally, regulatory hurdles are more manageable. Consequently, business prospects outside the US are thriving.
The SEC and Ripple are at odds regarding the amount of fines and penalties the California-headquartered firm should be required to pay.
On May 14, I came across a filing made by Ripple where they requested the sealing of particular documents that were submitted in response to the SEC’s application for judgment and remedies.
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2024-06-13 09:12