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XRP SEC

XRP CEO Trusting : We Will Win As The Law Is On Our Side

I am betting that XRP will win the lawsuit against the SEC, Garlinghouse says. 

Brad Garlinghouse, CEO of Ripple , discussed a number of crypto-related topics with Axios Fintech Reporter Lucin Shen at Collision 2022. Garlinghouse spoke about an essential topic: the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC). 

Ripple CEO stated that he is optimistic that the blockchain company will win the case. The problem is whether xrp is a security or not. According to Garlinghouse, his confidence stems from the fact that the law and other facts support the company’s argument that XRP is not a security.

Garlinghouse was quoted as saying in the interview :  

I am betting that [Ripple will win the lawsuit] just to be clear. I am betting on that not just because of the tone of the questions from the Judge.  I am betting on that because I know the facts are on our side. I am betting on that because the law is on our side

XRP

SEC Thinks Otherwise

However, the SEC is still pushing the case to ensure Ripple’s XRP is classed as a security, Garlinghouse said. 

 Garlinghouse added that :

The SEC has massively overstepped and they are trying to take jurisdiction ownership over something. I think they saw this gray area [that supports its argument that XRP is a security] and decided to go in

Garlinghouse: Nothing Will Change If Ripple

Shen further asked Garlinghouse what would happen if Ripple did not win the lawsuit. Garlinghouse noted that the company has been operating like it has already lost the lawsuit. Moments after Ripple was charged, U.S.-based trading platforms halted XRP trading as they feared that the SEC may come after them for facilitating the exchange of the asset class. 

If Ripple loses the case, does anything change? It is status quo, Ripple is still growing quickly,” he said.

Garlinghouse said that since the authority of the securities and exchange commission is only in the ABD, it only affects the XRP trade in the country. Right now the whole world thinks XRP has lost the case but that is not true , he added.

RELATED : US LAWMAKER DEMANDS SEC INVESTIGATE MAJOR CRYPTO EXCHANGES TRADING XRP

“The SEC only has jurisdiction in the United States. In some ways, if you think about how the “WORLD” is operating right now, it’s as if the case has been lost.”

The lawsuit, which has continued to linger for more than a year, is considered the biggest legal battle involving the SEC that has ever occurred in the cryptocurrency industry. 

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About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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