SEC Vs XRP, Ripple CEO Brad Garlinghouse Wants Trial To End Next Year
JAKARTA – The US Securities and Exchange Commission (SEC) lawsuit against Ripple (XRP) is still ongoing. Even so, Ripple CEO Brad Garlinghouse said the trial process was progressing. He hopes the case can reach a conclusion by 2022.
"We're seeing pretty good progress despite the slow pace of the judicial process," Garlinghouse said.
"Obviously we saw good questions asked by the judges. And I think the judge realized it wasn't just about Ripple. This will have broader implications," he said.
According to Bitcoin News, the SEC sued Ripple, Garlinghouse, and co-founder Christian Larsen in December last year, alleging that they sold $1.3 billion worth of XRP tokens in an unlisted securities offering. However, Ripple and executives argue that XRP does not qualify as a security.
Last week, Ripple published a proposal for a regulatory framework for cryptocurrencies called the “Real Approach to Cryptocurrency Regulation.” Garlinghouse explained that “the proposed policy framework is a three-pronged approach of what can be done now,” noting that it is the result of “Ripple’s direct interaction with regulators and bipartisan policymakers.” Ripple's CEO has repeatedly said that the SEC is not providing clarity on crypto regulations.
Garlinghouse sees the development of the SEC vs Ripple case running smoothly and making positive progress. In addition to Garlinghouse, Coinbase boss Brian Armstrong said that the trial "seems to be going better than expected."
Whereas previously, Coinbase had delisted XRP since it received a lawsuit from the SEC since January 2021. Coinbase re-listed XRP crypto on its platform a few months ago.
As of this writing, XRP is trading at Rp. 14,920. The price of XRP has decreased 4.6 percent in the last 24 hours. Based on a data report from Coinmarketcap, XRP broke its all-time high price (ATH) on January 7, 2018 at the level of Rp.45,650. Will XRP set a new ATH record by the end of this year? Wait for further information from Voi.id.