Brad Garlinghouse, the CEO of Ripple, anticipates that the very lengthy legal battle with the Securities and Exchange Commission (SEC) will be resolved within a few months. Garlinghouse indicated in a speech at the World Economic Forum in Davos, Switzerland, that the decision might be made as early as June of this year (2023) and that he is still optimistic about getting a favorable outcome.
Garlinghouse also attacked the SEC’s actions during the litigation and claimed that Ripple had been duped by the regulator because it had brought the lawsuit in spite of their attempts to meet with them for a meeting to seek clarification on the regulations.
The SEC filed the case in December 2020, alleging that Ripple sold its XRP coin as an unregistered security without authorization. Asserting that it does not meet the Howey test’s definition of an investment contract, Ripple has long disputed the assertion.
~Wolf
