Ripple CEO: I’m excited about the development of the case but the wheels of justice are slowly moving
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Answer Ripple CEO: I’m excited about the development of the case but the wheels of justice are slowly moving
He told Brad Garlinghouse, CEO and founder of Ripple, in a recent interview with CNBC He is pleased with the recent developments in the lawsuit brought against her by the US Securities and Exchange Commission (SEC).
The CEO of Ripple shared his comments and opinions hosted by CNBC at the Blockchain Week Summit in Paris.
According to Garlinghouse, the lawsuit has gone much better than expected 15 months ago when the company was sued.
The suit went very well, and much better than I had hoped for when I started about 15 months ago.Read:The founder of the Binance platform reveals a dangerous information that threatens the future of the crypto and Bitcoin market
But Garlinghouse was dismayed by the persistent delays that had been recorded throughout the course of the lawsuit, and said:
The wheels of justice are moving slowly.
The lawsuit brought by the US Securities and Exchange Commission (SEC) against Ripple has now gone on for more than a year, with the case recently tilting in favor of Ripple.
Ripple argues that XRP is a tool currency and not a security or security, but the SEC believes otherwise and has involved the company in a lengthy lawsuit.
The lawsuit affected the company in various ways, with Garlinghouse noting that Ripple is already operating in a bad atmosphere, adding:
This issue is important, not just for Ripple, but for the entire crypto industry in the United States.
A Ripple win will force the SEC to set rules to determine which cryptocurrency should be considered a security.
However, in the event that the company loses the lawsuit, all cryptocurrencies traded in the United States can be classified as securities.Read:Morgan Stanley Increases Its Exposure To Bitcoin By Buying More GBTC Shares
The lawsuit is expected to end in a settlement in favor of Ripple given the number of developments that have occurred against the SEC recently.
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