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Ripple CEO Brad Garlinghouse has expressed optimism about the ongoing legal tussle with the Securities and Exchange Commission, saying it is ‘going exceedingly well.’
Source: Cointelegraph
XRPUSD is up +6.94%
Garlinghouse noted while speaking at Paris Blockchain Week on Thursday that a loss in the contested case could see most cryptocurrencies recognized by the SEC as securities.
The executive adds that a requirement to have XRP as security will mean that the company will have to know all the persons holding it.
The remarks follow a pronouncement by the US Federal Presiding Judge, Sarah Netburn, declining the commission’s request for reconsidering shielding documents under privilege.
The SEC filed a lawsuit in 2020 against Ripple and its top executives for allegedly selling unregistered securities in the form of XRP. A win for the company is expected to see Ripple continue with its activities in the industry.
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