Brad Garlinghouse, Ripple's CEO, told Bloomberg that he expects to have an answer in the first half of next year regarding a lawsuit by the U.S. Securities and Exchange Commission over XRP. He maintains that xrp is not a security and that the case “is about the whole industry” and “Everyone acknowledges how important this is.”
Ripple might consider a settlement.
According to Bloomberg, Ripple's CEO Brad Garlinghouse said the company would consider a settlement with the SEC if it comes to that. The XRP case is about “the whole industry,” and everyone acknowledges this importance.
CEO Brad Garlinghouse said Tuesday that he thinks “we’ll have an answer in the first half of next year” in the U.S. Securities and Exchange Commission (SEC) lawsuit over XRP.
The Securities and Exchange Commission sued Ripple and its chief executive officer, Brad Garlinghouse, in December 2020, alleging that they offered over $1.3 billion worth of unregistered digital securities through XRP. Later that month, Ripple filed a motion to dismiss the suit, claiming that XRP is not a security. Meanwhile, the SEC has also asked for an official ruling from the court without a trial; meanwhile, Ripple's CEO Brad Garlinghouse has said that his company is frustrated by their case's slow progress: "It's frustrating it's taking this long. There's a lot of companies, I think, that realize how important this case is to the whole industry."