He said he had heard rumours XRP v SEC could be finalised around 15 December. There was speculation in December 2022 on Twitter that the case, which hangs on whether Ripple’s XRP token is an unlicensed security, could have been settled that month after an ask-me-anything with Cardano’s Charles Hoskinson. Until then, the Ripple lawsuit outcome is up in the air. Garlinghouse's comments came as final motions in the XRP lawsuit were put to the court, with the final ruling expected at some point this year. And so that leaves very little space in the Venn diagram for settlement." "The SEC and Gary Gensler has very outwardly said he views almost all crypto as a security. But I feel very good about where we are relative to the law and the facts."Īdding that he expected the final ruling in the Ripple lawsuit to be handed out "in the single digit months," Garlinghouse said: "We have always said that we would love to settle, but it requires one very important thing, and that is that, on a go-forward basis, it’s clear that XRP is not a security. On 18 January, Ripple CEO Brad Garlinghouse told CNBC: "We’re optimistic that this will certainly be resolved in 2023, and maybe the first half. He tweeted: "The SEC has lost 4 of its last 5 cases in the Supreme Court, thanks to the few that had the courage and resources to fight back against the SEC’s bullying and clinging to stretch legal positions that were not faithful to the law."Īlderoty's comments come not that long after bosses at the tech firm expressed their confidence that the case, which is currently before Judge Analisa Torres of the United States Southern District Court of New York, would be decided relatively soon. On 20 February 2023, Ripple's Chief Legal Officer, Stuart Alderoty, said that he expected his company would, ultimately, be successful again the SEC's claim that its XRP cryptocurrency was a security. On 20 March, lawyer John Deaton said he expected controversial comments by former SEC director Bill Hinman, seemingly suggesting that cryptocurrencies were not securities, would be made public because they also had an impact on other legal cases. On 18 April, SEC Chair Gary Gensler refused to say whether or not XRP was a security. Lawyers for Ripple argued that a judge's ruling against the SEC in a court case involving the Binance (BNB) crypto exchange, where the SEC argued unsuccessfully that Binance was an unregistered securities exchange, could have a positive impact in the ongoing hearing. In late March, the price of Ripple's XRP surged by around 30% owing to reports that the case would soon be coming to a close. The long-running court case between Ripple Labs and the US Securities and Exchange Commission ( SEC), which could set a precedent for the whole cryptocurrency industry, could come to an end after the Ripple/SEC lawsuit entered its third calendar year. The SEC filed a lawsuit against Ripple In December 2020, arguing that XRP was an unlicensed security – Photo: Shutterstock
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |