News

The case with the SEC will ‘likely’ reach a conclusion in 2022

According to the latest statements by Ripple’s CEO, the long-running feud between the crypto company and the United States Securities and Exchange Commission (SEC) is nearing an end.

Brad Garlinghouse highlighted the remarkable progress made, “despite a slow judicial process“. Speaking on CNBC, predicts that the Ripple case will likely end in 2022.

Clearly, we are having excellent questions posed by the judge“Garlinghouse reported, adding his belief that”the judge realizes that this is not just about Ripple, it will have wider implications“.

Last year, the SEC accused Ripple of selling unlicensed securities in the form of XRP tokens since 2013. Ripple objected to the allegations, arguing that XRP shouldn’t be considered a stock.

The SEC says Ripple was made aware by its legal advisors that XRP would fall back into the title classification before moving forward with the token sale, filing a motion to seek legal advice from the defendant. The court denied the motion, citing the attorney-client privilege.

Related: Ripple outlines a possible regulatory framework for the cryptocurrency industry in the United States

Over the course of the year, Ripple executives shared insights into the case and its possible impact on the business. Garlinghouse said Ripple’s expansion into the Asia-Pacific region was not hurt by the SEC lawsuit. The company is also considering a possible initial public offering (IPO) as soon as the case is resolved.

Support also came from XRP token holders, who introduced themselves as “friends of the court,” intending to join the case as defendants and support Ripple in his allegations. However, the judge denied them the opportunity to participate.

Kim Lee

Kim is a Chinese girl and has studied in England. Kim loves playing video games, she likes Fortnite games. Kim likes Hollywood movies. Kim's English is very good, so she became a writer. Email : kim@d1softballnews.com

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button