Ripple CEO ‘Optimistic’ About SEC Lawsuit Over XRP — Says ‘I Feel Very Good About Where We Are’ – Regulation Bitcoin News
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Ripple CEO Brad Garlinghouse is optimistic about the ongoing lawsuit between the US Securities and Exchange Commission (SEC) and Ripple Labs Inc. over the status of XRP.
The SEC filed a lawsuit against Ripple and two of its executives, Garlinghouse and co-founder Chris Larsen, in December 2020. The agency alleges that Ripple sold XRP, a digital asset, as an unregistered security.
Garlinghouse has been vocal about his confidence in the case, and he recently reaffirmed his stance in an interview with Bloomberg.
“I feel very good about where we are,” Garlinghouse said. “We’ve been very clear that XRP is not a security and that the SEC is wrong on the facts and the law, and we’re looking forward to our day in court.”
The SEC’s lawsuit has caused a massive disruption in the XRP market. Since the filing, the price of XRP has plummeted, and many exchanges have delisted the asset. Ripple has been fighting back, filing a motion to dismiss the case and arguing that XRP is a currency and not a security.
Garlinghouse believes that Ripple’s position is strong, and that the company will ultimately prevail.
“We’ve had a lot of conversations with regulators,” he said. “We’ve been very transparent and very open, and I think that’s why we feel confident in our position.”
The outcome of the case could have significant implications for the cryptocurrency industry, as it could set a precedent for how digital assets are regulated.
Regardless of the outcome, Garlinghouse is confident that Ripple will continue to innovate and remain a leader in the blockchain space.
“We’re going to continue to invest in the technology and the products,” he said. “We’re going to continue to innovate and be a leader in the space.”
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