{"id":41887,"date":"2023-01-21T08:59:39","date_gmt":"2023-01-21T08:59:39","guid":{"rendered":"https:\/\/egrowonline.com\/?p=41887"},"modified":"2023-01-21T08:59:39","modified_gmt":"2023-01-21T08:59:39","slug":"ripple-ceo-says-settlement-with-sec-unlikely-in-xrp-lawsuit-predicts-outcome-this-year","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=41887","title":{"rendered":"Ripple CEO Says Settlement with SEC unlikely in $XRP lawsuit, Predicts Outcome This Year"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Ripple CEO Brad Garlinghouse has said that the fintech firm is unlikely to settle with the U.S. Securities and Exchange Commission (SEC) in the regulator\u2019s lawsuit against it and two executives, which alleges they \u201craised over $1.3 billion through an unregistered, ongoing digital asset securities offering.\u201d\u00a0<\/p>\n<p>At a fireside chat in Davos with CNBC, Garlinghouse said that a settlement could only be possible if the SEC clarified $XRP isn\u2019t a security. The CEO said that the problem in the case is that the SEC, under its current Chairman Gary Gensler, has \u201carticulated a view that all crypto is a security.\u201d<\/p>\n<p>Garlinghouse added that the \u201cthe only way we would settle is if there\u2019s clarity that XRP is not a security on a go-forward basis. He added that the \u201cVeen diagram for settlement is I think zero,\u201d which means that the case will end with a decision from a judge.<\/p>\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Davos: Fireside chat with Ripple CEO Brad Garlinghouse\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/LNTS1u7Jvag?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/figure>\n<p>To Ripple\u2019s CEO, a ruling on the lawsuit could be delivered this year, as the firm expects a decision \u201ccertainly in 2023.\u201d He added that it\u2019s impossible to \u201chave any control over when a judge makes their decisions,\u201d but is optimistic that a decision will come \u201csometime in the coming single-digit number of months.\u201d<\/p>\n<p>            <!-- Inline ads (all screen sizes) --><br \/>\n            <!-- Primis --><\/p>\n<p>            <!-- Inline ads (xs-lg screens) --><br \/>\n            &lt;!&#8211;<\/p>\n<div class=\"d-xl-none\">\n<div class=\"g-pt-30 g-pb-30 text-center\">\n                    Not in use\n                <\/div><\/div>\n<p>            &#8211;&gt;<\/p>\n<p>            <!-- Inline ads (xl screens) --><br \/>\n            &lt;!&#8211;<\/p>\n<div class=\"d-none d-xl-block\">\n<div class=\"g-pt-30 g-pb-30 text-center\">\n                    Not in use\n                <\/div><\/div>\n<p>            &#8211;&gt;<\/p>\n<p>Garlinghouse defended the fintech firm has been battling on behalf of the entire cryptocurrency industry. Several cryptocurrency firms have indeed asked a \u00a0federal court for permission to file a friend-of-the-court brief in the ongoing lawsuit, including Coinbase, the Blockchain Association and SpendTheBits.<\/p>\n<p>As CryptoGlobe reported Jeremy Hogan, an $XRP proponent and a U.S. legal counsel, has recently said that the U.S. Securities and Exchange Commission\u2019s lawsuit against Ripple and two of its executives <a target=\"_blank\" href=\"https:\/\/www.cryptoglobe.com\/latest\/2022\/09\/ripples-xrp-lawsuit-could-soon-be-settled-crypto-legal-expert-suggests\/\" rel=\"noopener\">could soon be settled.<\/a><\/p>\n<p>Notably, Hogan has said that the lawsuit being settled could\u00a0<a target=\"_blank\" href=\"https:\/\/www.cryptoglobe.com\/latest\/2021\/06\/ripple-settling-sec-lawsuit-could-lead-to-xrp-supply-shock-crypto-legal-expert-says\/\" rel=\"noopener\">lead to an XRP supply shock<\/a>, which presumably would lead to a price surge as demand would remain the same, while supply plunged. The cryptocurrency community notably sees\u00a0<a target=\"_blank\" href=\"https:\/\/www.cryptoglobe.com\/latest\/2022\/09\/crypto-community-sees-xrp-price-explode-upward-in-september-data-shows\/\" rel=\"noopener\">XRP\u2019s price explode upward when both parties asked for a summary judgment<\/a>.<\/p>\n<h2>Image Credit<\/h2>\n<p><em>Featured Image via\u00a0<a target=\"_blank\" href=\"https:\/\/pixabay.com\/illustrations\/coins-cryptocurrency-ripple-xrp-3786691\/\" rel=\"noopener\">Pixabay<\/a><\/em><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiggFodHRwczovL3d3dy5jcnlwdG9nbG9iZS5jb20vbGF0ZXN0LzIwMjMvMDEvcmlwcGxlLWNlby1zYXlzLXNldHRsZW1lbnQtd2l0aC1zZWMtdW5saWtlbHktaW4teHJwLWxhd3N1aXQtcHJlZGljdHMtb3V0Y29tZS10aGlzLXllYXIv0gEA?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple CEO Brad Garlinghouse has said that the fintech firm is unlikely to settle with the U.S. Securities and Exchange Commission (SEC) in the regulator\u2019s lawsuit against it and two executives, which alleges they \u201craised over $1.3 billion through an unregistered, ongoing digital asset securities offering.\u201d\u00a0 At a fireside chat in Davos with CNBC, Garlinghouse [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":41888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[45],"tags":[467,59,3595,470,265,605,3370,58,547],"class_list":["post-41887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ceo","tag-lawsuit","tag-outcome","tag-predicts","tag-ripple","tag-sec","tag-settlement","tag-xrp","tag-year"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/01\/coins-3786691_1280-768x508.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/41887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41887"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/41887\/revisions"}],"predecessor-version":[{"id":41889,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/41887\/revisions\/41889"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/41888"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41887"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}