Cryptocurrency

Ripple seeing ‘good progress’ in SEC case over XRP, outcome expected next year

KEY POINTS -Ripple is making “good progress” in its legal feud with the U.S. Securities and Exchange Commission, CEO Brad Garlinghouse said. -Garlinghouse expects the case will likely reach a conclusion next year. -The SEC alleges Ripple and its executives sold $1.3 billion worth of the cryptocurrency XRP in an unregistered securities offering. Reported by […]

By CJ Reichel · November 24, 2021

Ripple seeing ‘good progress’ in SEC case over XRP, outcome expected next year

-Ripple is making “good progress” in its legal feud with the U.S. Securities and Exchange Commission, CEO Brad Garlinghouse said.

-Garlinghouse expects the case will likely reach a conclusion next year.

-The SEC alleges Ripple and its executives sold $1.3 billion worth of the cryptocurrency XRP in an unregistered securities offering.

Reported by CNBC.com

Fintech company Ripple is making great strides in its legal feud with the U.S. Securities and Exchange Commission, CEO Brad Garlinghouse told CNBC on Monday.

Garlinghouse said he expects the case, which centers on XRP, the world’s seventh-biggest cryptocurrency, will likely reach a conclusion next year.

“We’re seeing pretty good progress despite a slow-moving judicial process,” he told CNBC’s Dan Murphy.

“Clearly we’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple, this will have broader implications.”

Garlinghouse said he was hopeful there would be closure next year.

Ripple, which is based in San Francisco, generated a lot of buzz during the crypto frenzy of late 2017 and 2018, which saw the prices of bitcoin, ether and other cryptocurrencies skyrocket to record highs.

Read the full article at CNBC.com