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Ripple’s Garlinghouse Says SEC Lawsuit ‘Going Exceedingly Well’

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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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