Ripple Labs’ CEO Brad Garlinghouse has expressed his confidence that the Securities and Exchange Commission (SEC) case against his company will be resolved within the next six months.
Garlinghouse made the remarks during an interview on the popular podcast “What Bitcoin Did”, where he discussed the ongoing legal battle between Ripple and the U.S. regulator. He noted that the case has been ongoing for two years and that it has hurt Ripple’s operations.
However, Garlinghouse expressed optimism that a resolution would be reached soon. He noted that Ripple is amid a “robust dialogue” with the SEC and believes the case could be resolved in the next six months, media reports said.
The Ripple CEO expressed confidence that the SEC’s lawsuit against Ripple would have a favorable outcome. He noted that his company has complied with all applicable laws and has been transparent about its operations. He also discussed the wider implications of the case, suggesting that if the SEC were to determine that Ripple’s XRP token is a security, it could have a chilling effect on innovation in the cryptocurrency space.
XRP, Ripple’s native token, has declined 2.1% on the day, currently trading at $0.379. Over the past week, it has only seen a 9% increase and is still down 89% from its peak in January 2018.
At the same time, Garlinghouse pointed out that if Ripple were to win the case, it could open up the door for other cryptocurrencies to be classified as non-security assets. He noted that this could positively impact the crypto industry, as it would make it easier for crypto companies to operate in the United States.
Overall, Garlinghouse expressed optimism that the SEC case against Ripple would be resolved soon, and that the outcome would be favorable for his company. He also noted that the final ruling could have a major impact on the cryptocurrency industry as a whole.
