JAKARTA - The Ripple payment company recently provided an update to a lawsuit filed by the US Securities and Exchange Commission (SEC). In a fourth-quarter 2022 report, Ripple said it expected this year's decision and was "more confident" than before the decision.
The SEC lawsuit alleges that Ripple is selling cryptocurrency XRP as an unregistered securities. Ripple said that after two years of fighting this lawsuit, the case had been resolved.
After two years against this lawsuit on behalf of the entire crypto industry and American innovation, the case has been discussed and Ripple is proud of its defense and feels more confident than ever while waiting for Hakim's decision. Time of decision lies with Hakim, but the company hopes to see a decision in 2023, "wrote Ripple.
Ripple CEO Brad Garlinghouse said the company expects a decision in the coming months and the only way they will resolve the case is with clarity that XRP is not a security.
"The only way Ripple will solve it, and I've said this at the start, the only way we're going to solve it is if there is clarity that XRP is not a trading security..." said Brad Garlinghouse.
Although the court has not given an exact time when a decision will be made, Ripple has shown confidence in dealing with a lawsuit from the SEC. For information, by the end of 2020, the US Securities and Exchange Commission (SEC) sued Ripple on charges of selling unregistered securities. However, Ripple denied the allegations.
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