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Ripple CEO says SEC lawsuit will be finalized next year

Ripple CEO Brad Garlinghouse. Source = CNBC

Ripple’s Chief Executive Officer Brad Garlinghouse predicted that the lawsuit with the U.S. Securities and Exchange Commission (SEC) would be finalized next year.

According to CNBC, a US economic media outlet on the 23rd (local time), Brad Garlinghouse said in an interview that “even though the lawsuit is going slowly, progress is going pretty well.”

“The judge is asking us a meaningful question,” he said.

He did not disclose the nature of the question, but emphasized that “the case will be finalized next year.”

Regarding the regulatory situation by country, “The United Arab Emirates, Japan, Switzerland and Singapore are showing leadership in regulating the virtual asset business. On the other hand, regulations in China and India focus only on cracking the virtual asset industry. “He said.

The legal dispute between Ripple and the SEC began last December when the SEC sued Ripple for violating securities laws. The SEC took issue with the fact that Ripple sold the virtual asset XRP (Ripple) without registering it as a security.

In response, Ripple is arguing that this situation has occurred because there are no clear regulations in the US.

Ripple General Counsel Stuart Alderoty tweeted in September: “The European Union (unlike the US) is listening to all stakeholders through its MiCA (Europe’s Markets in Crypto-Assets Regulation)” pointed out

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