Ripple's fight against a lawsuit from the Securities and Exchange Commission has gone 'exceedingly well,' CEO Brad Garlinghouse said.
Ripple's fight against a lawsuit from the Securities and Exchange Commission has gone "exceedingly well," CEO Brad Garlinghouse said.
The SEC alleges Ripple conducted an illegal securities offering through sales of XRP, the world's sixth-biggest cryptocurrency. Ripple argues XRP should be treated as a virtual currency rather than an investment contract like a stock.Brad Garlinghouse, chief executive officer of Ripple Labs Inc., speaks during a panel discussion at the Singapore FinTech Festival in Singapore, on Monday, Nov. 12, 2018.PARIS — Ripple CEO Brad Garlinghouse is confident the company will come out well as its lengthy court battle with the U.S. Securities and Exchange Commission nears a conclusion.
The San Francisco-based start-up is fighting the SEC over allegations that Ripple, Garlinghouse and executive chairman Chris Larsen engaged in an illegal securities offering through sales ofRipple has disputed the SEC's findings, arguing XRP should be treated as a virtual currency rather than an investment contract like a stock.
"The lawsuit has gone exceedingly well, and much better than I could have hoped when it began about 15 months ago," Garlinghouse said at a CNBC-hosted fireside chat at the Paris Blockchain Week Summit Thursday. "But the wheels of justice move slowly."Earlier this week, a judge
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