Ripple CEO says SEC lawsuit will likely conclude in 2022

The CEO of the Ripple firm shared some points of view on the lawsuit matters that are going against the Ripple firm since December 2020. 

Ripple is a highly popular crypto project, which is known for its ecosystem and worldwide network to digitize the traditional payment system with blockchain technology. At present, Ripple firm is facing huge scrutiny issues because of the US regulatory agency, SEC. 

Recently, Ripple CEO, Brad Garlinghouse appeared in an interview with CNBC. In the interview, Brad said that they believe that the case will be over by next year smoothly. 

According to Brad, the government lawsuit actions are slow in the process but still, the lawsuit case against Ripple firm is going smoothly. 

“We’re seeing pretty good progress despite a slow-moving judicial process.”

Further, Brad shared his stance on the judges’ point of view on this case. And Brad said that they are only looking at the positive things on the questions raised by the Court judge. And the judge believes that it is not all about only Ripple firms but it will impact the whole market. 

“We’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple, this will have broader implications.”

Some XRP holders criticized the action of the SEC agency against Ripple firm to control the price of XRP tokens during the bull run. 

Ripple’ XRP is securities a big turning point 

In the present time, the SEC agency is trying its best to prove XRP as a Securities not a crypto asset. 

According to current legal experts of crypto, if XRP will go under the securities law then surely all the individual people will fall under the Section 5 violation. So to describe the XRP as securities instead of crypto will be a historical decision and it may impact a big part of the tokens % in the crypto industry.

“Judge Netburn recognized the SEC’s over-broad and far-reaching theory that all XRP are securities when she recognized, according to the SEC’s argument, that every person in the world selling #XRP is committing a Section 5 violation”

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