According to Ripple CEO Brad Garlinghouse, his company is approaching the very end of its long-lasting legal battle with the SEC.
“Why did the SEC go after XRP kind of first…? You know, in some ways, you look at that now and you say we’re almost at the very very end of that journey.”
Garlinghouse doesn’t know the exact date when the lawsuit is going to be resolved, but he jokingly named Sept. 21 as “the end of summer.”
The judge will make the decision when she makes the decision. My estimation is sometime before the end of the summer. Somebody asked me if it would be by the end of August. I pointed out that Sept. 21 is the end of summer, so I don’t know,” Garlinghouse said.
The Ripple CEO has also stressed XRP’s unique position in the US because of regulatory clarity. “XRP in the US is one of the few things we can say definitively is not a security with ETH, I don’t know how this is going to play out,” he said.
“The US market remains frankly a lagger you know, uh the US regulatory environment even though Ripple is at the tail end of that,” Garlinghouse added. The Ripple boss has accused SEC Chair Gary Gensler as the head of the SEC of being “pretty hostile” towards crypto.
Ripple CTO David Schwartz has noted that the US market remains an important and critical piece, but globally, regulatory challenges are much more tractable, and business outside the US is great, according to the executive.
Ripple is currently engaged in a dispute with the U.S. Securities and Exchange Commission over the size of fines and penalties that the San Francisco-based company is supposed to pay.
On May 14, Ripple filed a motion to seal certain documents filed in connection with the SEC’s motion for judgment and remedies.
