• Ripple Labs CEO Brad Garlinghouse has speculated that the firm’s court case with the U.S. Securities and Exchange Commission (SEC) will conclude in weeks, rather than months.
• This is due to recent developments such as a former Director of Corporate Finance William Hinman’s speech declaring Ethereum (ETH) a non-security.
• The SEC’s ongoing conflict and lack of clear regulations have resulted in many industry players relocating or outsourcing.
Ripple’s Lawsuit With SEC
Ripple Labs CEO Brad Garlinghouse has speculated that the firm’s court case with the U.S. Securities and Exchange Commission (SEC) will conclude in weeks, not months. In December 2020, Ripple was sued by the SEC on the grounds of allegedly selling XRP as an unregistered security.
William Hinman’s Speech
Recent developments such as a former Director of Corporate Finance William Hinman’s speech declaring Ethereum (ETH) a non-security have led Garlinghouse to expect a decision from courts this year in weeks rather than months. As per judge’s ruling last week, emails associated with Hinman’s speech will be made public around June 13th which is seen as a huge win for transparency by Garlinghouse himself.
Consequences Of Conflict With SEC
The Ripple CEO remains committed to completing the fight but acknowledges that the ongoing conflict with the SEC and lack of clear regulations have resulted in many industry players relocating or outsourcing their operations outside United States due to government putting politics ahead of smart policy according to him.
Ripple Leaning In To Fight
In order to bring clarity amidst calls and demands from leaders across cryptocurrency industry, Ripple decided to lean in and fight against SEC despite spending significant amount of money defending it says Garlinghouse.
Conclusion
It appears that soon there will be clarity regarding Ripple’s lawsuit against US Securities & Exchange Commission with decisions expected from courts within weeks rather than months according to Garlinghouse himself while consequences of this conflict resulting in many companies relocating/outsourcing their operations outside US already visible