Ripple CEO Brad Garlinghouse reports positive progress with SEC

Home / Ripple CEO Brad Garlinghouse reports positive progress with SEC

Ripple CEO Brad Garlinghouse reported an optimistic outlook on the case with the Securities and Exchange Commission (SEC).
“The litigation has gone very well and much better than I could have hoped when it started about 15 months ago,” he said.
In 2020, the SEC filed a lawsuit against Ripple and its executives Brad Garlinghouse and Christian Larsen for selling unregistered securities in the form of XRP tokens.
Garlinghouse’s comment came after a RippleNet lawyer said that Ripple had achieved a “very big win” over the SEC.
Earlier, Presiding Judge Sarah Netburn denied the SEC’s request for a confidentiality review of documents related to a speech by the regulator’s former director of corporate finance, William Hinman. At the time, he stated that Bitcoin and Ethereum were not securities.
“This case is important not just for Ripple; it’s important for the entire crypto industry in the United States,” Garlinghouse said.
He added that if Ripple loses, it would set a precedent that would result in most tokens on cryptocurrency exchanges being recognized as “securities” by the SEC.

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