• Ripple CEO Brad Garlinghouse expressed optimism about the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against Ripple and xrp, saying he believes it will be resolved in 2023.
• Garlinghouse said that Ripple does not plan to settle the case and wants it to be clear that XRP is not a security.
• The SEC and Ripple have submitted their final briefs for a summary judgment of the case, and Garlinghouse expects a ruling to arrive in the coming single-digit months.
Ripple CEO Brad Garlinghouse expressed optimism about the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the sale of XRP in an interview with CNBC Wednesday at the World Economic Forum in Davos, Switzerland. The SEC filed a lawsuit against Garlinghouse, Ripple, and co-founder Chris Larsen in December 2020, claiming that XRP was an unregistered security offering.
Garlinghouse said that he is „optimistic“ that the case „will certainly be resolved in 2023,“ and that it could even be resolved in the first half of this year. He added that judges will „take however long“ they take. The Ripple executive also noted that he feels „very good about where we are relative to the law and the facts.“
Ripple has maintained that XRP is not a security, and Garlinghouse said that the company does not plan to settle the case. He explained that „it requires one very important thing, and that is that, on a go-forward basis, it’s clear that XRP is not a security.“
Both the SEC and Ripple have submitted their final round of briefs in December last year, seeking a summary judgment of the case. Garlinghouse said that he expects a ruling to arrive „sometime in the coming single-digit months.“ He also pointed out that Ripple has engaged with the SEC, and that the company is „going through a very thoughtful process.“
In conclusion, Garlinghouse expressed optimism that the case will be resolved in 2023, and that Ripple will be able to make it clear that XRP is not a security. He also noted that they are going through a thoughtful process and that a ruling should arrive in the coming single-digit months.