Ripple CEO Brad Garlinghouse has given an updated timeline for the XRP lawsuit with the SEC, indicating that he is optimistic about a resolution in the first half of 2023. Garlinghouse stated that Ripple would be willing to settle the lawsuit, but only if it’s clear that XRP is not a security going forward. However, the SEC’s Gary Gensler believes that most cryptos are securities, leaving little room for a settlement. The case is now fully briefed and awaiting a judge’s decision. Garlinghouse feels confident about Ripple’s position in relation to the law.
that the SEC has been wrong since day one in this case.
The XRP Lawsuit: Could it End in First Half of 2023?
The fate of XRP, one of the most talked-about cryptocurrencies, is still uncertain as it is embroiled in a legal battle with the US Securities and Exchange Commission (SEC). However, Ripple CEO Brad Garlinghouse is optimistic that the lawsuit will be over in the first half of 2023. In a recent interview, he gave an update on the progress of the lawsuit and shared his thoughts on the matter.
What’s Happening With the XRP Lawsuit?
In the interview, Garlinghouse stated that the case is now fully briefed in front of the judge. However, judges take however long they take to make a decision. He expressed his optimism that the lawsuit will be resolved in 2023, possibly in the first half of the year.
The CEO talked about the possibility of settling the lawsuit with the SEC. Ripple has always been willing to settle; however, they need one important thing – clarity on whether XRP is a security. The SEC and Gary Kinsler view almost all crypto as securities, which leaves little room for a settlement.
XRP Has Been Wronged Since Day One, Says Garlinghouse
Despite the legal battle, Garlinghouse reiterated that he feels good about where Ripple stands relative to the law. He also criticized the SEC’s actions, stating that the agency has been wrong since day one.
The outcome of the lawsuit will likely have a significant impact on the entire cryptocurrency industry. XRP supporters are eagerly waiting for the legal battle to end as it has caused the digital asset’s value to take a hit. XRP was once the third-largest cryptocurrency by market capitalization but has since dropped to seventh place.
In conclusion, the XRP lawsuit is still ongoing, and the outcome remains uncertain. However, Ripple’s CEO is optimistic that the legal battle will end in the first half of 2023. It remains to be seen what impact this will have on the cryptocurrency industry and the future of XRP.