Ripple CEO Brad Garlinghouse doesn’t think the payments firm will reach a settlement with the U.S. Securities and Exchange Commission (SEC) in the lawsuit alleging XRP to be a security.
Garlinghouse says in a CNBC interview that a settlement would only happen if the SEC clarified that XRP is not a security.
“The problem here is the SEC under [Chair] Gary Gensler has articulated a view that all crypto is a security. The only way that Ripple would settle, and I’ve said this at the very beginning, the only way we would settle is if there’s clarity that XRP is not a security on a go-forward basis…
The Venn diagram for settlement is I think zero. So I think we’re going to end up letting the judge decide.”
The Ripple CEO says that a ruling on the SEC’s lawsuit against the payments company could potentially be delivered this year.
“We expect a decision from the judge certainly in 2023. But you don’t really have any control over when a judge makes their decisions.
I’m optimistic that you know sometime in the coming single-digit number of months we will have closure.”
According to Garlinghouse, the payments firm has been fighting for the entire crypto industry in the SEC’s lawsuit against Ripple.
“This case is very important to crypto not just for Ripple. It’s for the whole industry.
And I think that the fight that we’ve been fighting really has, in some ways, been for the whole industry.”
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