Ripple CEO: XRP lawsuit resolved by June, SEC conduct ’embarrassing’
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Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome.
Garlinghouse added that the U.S. SEC should take note from some of the more crypto-friendly countries who are piecing together more “positive” regulation that doesn’t stifle innovation.
Among the countries he spoke highly of included the the United Arab Emirates, Japan, Singapore, Switzerland and the U.K.
Related: Ripple files final submission against SEC as landmark case nears end
The lawsuit was initiated by the SEC in December 2020, claiming that Ripple illegally sold its XRP token as an unregistered security.
Ripple has long disputed the claim, arguing that it doesn’t constitute an investment contract under the Howey test.
Should the two sides fail to settle, the New York-based District Court will either make a standalone ruling or put the matter before a jury in a trial.
