Ripple CEO, Brad Garlinghouse has expresses confidence in court victory, calling SEC’s behavior “embarrassing”.
Ripple CEO Brad Garlinghouse predicts his company’s long-running dispute with the US Securities Exchange Commission (SEC) is nearing an end. Furthermore, he remains confident that he will have a positive outcome for Ripple.
Interviewed by CNBC during the World Economic Forum in Davos, Switzerland, Garlinghouse said that the verdict could arrive as early as June, now that both sides have presented all their arguments in court.
Garlinghouse and XRP investors appear confident of victory in court. The Ripple CEO also called the SEC’s behavior “embarrassing”.
While understanding that the outcome of the case will have huge implications for the entire cryptocurrency industry, Garlinghouse reiterated that Ripple will agree to a settlement only if it is made clear that XRP it is not a security. However, “the SEC and Gary Gensler have openly stated that they consider almost all cryptocurrencies securities. […] so I think it is unlikely that this will happen.”
Garlinghouse added that the SEC should look into other, more crypto-friendly countries that are putting in place regulatory frameworks that regulate the sector without stifling innovation. In this regard, he cited the United Arab Emirates, Japan, Singapore, Switzerland and the United Kingdom.