According to CEO Brad Garlinghouse, Ripple is gradually gaining the upper hand in the lawsuit against the US Securities and Exchange Commission (SEC). However, an end to the legal dispute is not yet in sight.
- Ripple coo Brad Garlinghouse has described the progress of the lawsuit against the U.S. Securities and Exchange Commission (SEC) as positive in an interview during Paris Blockchain Week.
- “The process has gone extraordinarily well, much better than I could have hoped for when it started about 15 months ago,” Garlinghouse said.
- The subject of the litigation, which has been ongoing since late 2020, is the regulatory status of the cryptocurrency XRP issued by Ripple.
- According to the SEC, XRP is an unregistered security. Accordingly, Ripple was guilty of unauthorized securities issuance.
- The lawsuit is seen as a precedent for cryptocurrency issuance.
- Attorney James Filan spoke a few days ago of a “very big victory” for Ripple after the judge in charge, Sarah Netburn, denied a motion by the SEC.
- In it, the agency had sought to keep documents under seal in which former SEC Director William Hinman stated that Bitcoin and Ethereum are not securities.
- But there is no end in sight to the litigation.
- “The wheels of justice move slowly,” Garlinghouse explained.
Picture by Pixabay
TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise