Ripple and the SEC could settle their case sometime next year

Ripple and the SEC could settle their case sometime next year

The legal battle might soon be over, but the outcome is still unknown

The prevalence of the dispute between the US Securities and Exchange Commission (SEC) and distributed accounting technology firm Ripple has been on the table for far too long now; however, according to Ripple’s CEO, this could finally be coming to a conclusion.

Through some statements to CNBC, Brad Garlinghouse, the head of Ripple, said that the progress made in the case, even though it has been tedious and slow, would be coming to an end next year. “Clearly, we’re seeing good questions asked by the judge,” Garlinghouse said, adding his belief that “The judge realizes this is not just about Ripple; this will have broader implications.”

The whole long-running dispute kicked off last year when the SEC charged Ripple with selling unlicensed securities in the form of XRP tokens since 2013. Ripple, not sitting idly by in the face of the regulator’s strong statements, took exception to the claims, arguing that XRP really shouldn’t be considered a security.

The SEC, for its part, asserted that Ripple might be aware that XRP could be a security to its legal advisors before even going ahead with its token sale, which is why it filed a motion for access to the defendant’s legal counsel. Citing attorney-client privilege, the court denied the motion.

Throughout this time, Ripple executives have shared information about the case and what its impact has been on the business. Garlinghouse said the SEC’s lawsuit has so far failed to have a major influence on the company’s expansion into the Asia-Pacific region. In fact, one of Ripple’s plans as soon as this legal process is over is to consider a possible initial public offering.

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