Ripple CEO Discusses Potential Outcomes of SEC Lawsuit Over XRP – Regulation Bitcoin News

Ripple CEO Discusses Potential Outcomes of SEC Lawsuit Over XRP – Regulation Bitcoin News

Ripple’s CEO has shared his views on the possible outcome of a lawsuit filed by the US Securities and Exchange Commission (SEC) over the sale of xrp, which the regulator claims is an unregistered securities offering.

Ripple CEO Discusses Implications of SEC Victory in Lawsuit

Ripple CEO Brad Garlinghouse discussed the lawsuit filed by the US Securities and Exchange Commission (SEC) over XRP earlier this month in interview with Axios at the Collision 2022 event.

SEC sued Ripple Labs, Garlinghouse and co-founder Chris Larsen in December 2020, claiming that XRP the sale was an unregistered offering of securities. Ripple disagreed with the SEC and has been waging a legal battle with the securities regulator ever since.

During the interview, Garlinghouse was asked what would happen if he didn’t get a verdict in his favor and XRP is considered a security.

Ripple’s CEO was quick to point out that in that situation, XRP would be considered safe only in the United States. He explained:

The SEC only has jurisdiction in the United States, and in a way… The way the world works right now, it’s like a lost case.

He added that investors cannot trade XRP in the US on most platforms. Coinbase, for example, halted trading XRP shortly after the SEC filed charges against Ripple.

“If Ripple loses the case, does anything change? It’s basically just the status quo. Ripple is still growing very, very fast,” Garlinghouse said.

Garlinghouse bets on a win against the SEC

Emphasizing that it is betting that Ripple will win the case against securities regulators, the executive confirmed:

I’m betting on it because I think the facts are on our side. I’m betting on it because the law is on our side.

“I think the SEC has greatly overreached and is trying to take some sort of jurisdictional ownership of something that is… I think they saw this gray area and they said ‘hey, let’s go in,’” the Ripple CEO explained.

He added: “It’s frustrating that this is going on. I think there are a lot of companies that understand how important this case is to the entire industry.”

In April, Stuart Alderoty, legal counsel at Ripple, tweeted: “Now it looks like the resolution will come in 2023 – and every day that passes hurts US citizens who were essentially victims of SEC rug pulling. 15 billion dollars XRP market capitalization was destroyed the day the suit was filed, hurting the very people the SEC claims to protect.”

Tags in this story

Brad Garlinghouse, Brad Garlinghouse’s lawsuit, Brad Garlinghouse xrp, ripple lawsuit, Ripple Lawsuit SEC, Ripple xrp lawsuit, sec suit, sec in ripple, sec beats xrp litigation, xrp lawsuit, xrp beats ripple

Do you think the SEC will win a lawsuit against Ripple XRP? Let us know in the comments section below.

Ripple CEO Discusses Potential Outcomes of SEC Lawsuit Over XRP – Regulation Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open-source systems, network effects, and the intersection between economics and cryptography.




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