The long-awaited ruling in the SEC vs. Ripple case is expected to come within weeks, and Ripple CEO Brad Garlinghouse is preparing for a showdown with SEC Chairman Gary Gensler.
The case began in December 2020, when the SEC filed a lawsuit against Ripple Labs, alleging that the company had sold XRP, its native cryptocurrency, as an unregistered security. Ripple has denied the allegations, arguing that XRP is a commodity and not a security.
The case has been closely watched by the cryptocurrency industry, as the outcome could have major implications for the regulation of digital assets in the United States. A victory for the SEC could lead to more aggressive enforcement of securities laws against cryptocurrency companies, while a victory for Ripple could pave the way for more widespread adoption of digital assets.
BREAKING #XRPCommunity : @bgarlinghouse expects a court case resolution in weeks and not months , following the recent court news regarding the Hinman emails!
PS: feels like the interviewer is an XRP holder 🤣 pic.twitter.com/OT303FoNZI
— XRPnewt🏴☠️ (@XRPnewt) May 25, 2023
In a recent interview, Garlinghouse said that he is confident that Ripple will win the case. He argued that the SEC’s case is “deeply flawed” and that the judge in the case, Analisa Torres, has been “fair and impartial.”
“We’re confident in our case,” Garlinghouse said. “We think the judge has been fair and impartial, and we think we’re going to prevail.”
The SEC has not commented on the case, but Gensler has said that he believes that XRP is a security. In a speech in March, Gensler said that “many of these tokens — and I’m talking about, like, Bitcoin and Ether — the underlying technology is a distributed ledger, but these tokens are investment contracts.”
The ruling in the SEC vs. Ripple case is expected to have a major impact on the cryptocurrency industry. A victory for the SEC could lead to more aggressive enforcement of securities laws against cryptocurrency companies, while a victory for Ripple could pave the way for more widespread adoption of digital assets.
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