Ripple chief believes that the legal battle against the SEC has been going a lot better than when it started

In an interview today, Brad Garlinghouse, the chief executive officer of Ripple, discussed his company’s ongoing case with the Securities and Exchange Commission (SEC). He said that it would be difficult for the SEC to prove that Ripple sold unregistered securities, especially given the lack of regulatory clarity.

Brad Garlinghouse: Ripple Suit Has Gone “Exceedingly Well,” and We’re Having Record Growth

In an extensive interview with CNBC in Paris this morning, Brad Garlinghouse made public comments about his company’s ongoing legal battle with the SEC. Ripple has been embroiled in a lawsuit with the SEC since December 2020.

The central question of the case, as noted by Garlinghouse, is whether Ripple sold unregistered securities when initially offering XRP tokens, and the answer to that requires determining whether XRP must be confidential or not. Garlinghouse states that the position of the SEC, i.e., Ripple should have known that its token was a security at the time, is unverifiable:

“I think it’s very clear that in the United States, the laws have not been clear, and for the SEC then to go back in time and say you should have known all along… it’s a hard case”, he stated.

Garlinghouse then went on to state that recent events during the trial led to his firm confidence that it was not selling unregistered securities. For example, he cited a court ruling made in the past few days requiring the Commission to release information about statements made by the director of corporate finance, William Hinma. Hee states that Ethereum is not a security.

The head of Ripple later dismissed the SEC for failing to provide regulatory clarity, an aspect that is crucial to protecting the company. He mentioned that he often advises entrepreneurs in the crypto space not to start in the US because of its lack of clarity. However, he called the recently signed executive order on crypto regulation a positive and significant development.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS