Ripple CEO expects answer in SEC lawsuit over XRP in early 2023 – Regulation Bitcoin News

Ripple CEO Brad Garlinghouse has said that the US Securities and Exchange Commission (SEC) lawsuit over xrp will have an answer in the first half of next year. While insisting that xrp is not a security, he stressed that the matter was “about the whole industry” and that “everybody realizes how important this is.”

Ripple CEO expects answers in the first half of next year

Ripple CEO Brad Garlinghouse spoke during the DC Fintech Week event about the timeframe for litigation by the U.S. Securities and Exchange Commission (SEC) over the sale of XRP, according to Bloomberg. reported on Tuesday.

Admitting that the pace of court proceedings is difficult to predict, Garlinghouse said:

I think we will have an answer in the first half of next year. We’ll see later if it’s Q1 or Q2.

Garlinghouse also said on Tuesday that Ripple would consider settling with the SEC if regulators say XRP is not a security. The executive emphasized that the XRP lawsuit is “about the whole industry,” adding:

We all know how important this is.

Garlinghouse said that Ripple has limited U.S. operations and that “for all intents and purposes, XRP has no liquidity in the U.S.”

In December 2020, the SEC sued Ripple, Garlinghouse, and co-founder Chris Larsen, claiming they raised more than $1.3 billion through an unregistered ongoing XRP digital asset securities offering. Ripple subsequently filed a motion to dismiss the lawsuit, arguing that the XRP token is not a security. Meanwhile, the SEC also asked the court to rule in its favor without trial.

In July Garlinghouse said: I think a lot of companies realize how important this lawsuit is to the industry as a whole. “

What do you think of Ripple CEO Brad Garlinghouse’s comments? Let us know in the comments section below.

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