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


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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