Ripple CEO Brad Garlinghouse is expecting a decision in the lawsuit against SEC this year. Ripple General Counsel Stuart Alderoty has warned those in the crypto space to not trust the SEC. Ripple [XRP] CEO Brad Garlinghouse has revealed a timeline for the verdict of the ongoing lawsuit with the U.S Securities and Exchange Commission […]
, Garlinghouse stated that he expected a decision on the controversial lawsuit this year. The lawsuit has been going on since December 2020.According to the Ripple CEO, the verdict in this case will be pivotal for the crypto industry, not only in terms of setting a legal precedent for which crypto assets qualify as a security, but also defining the jurisdiction of United States regulators like the SEC.
Many have accused the SEC of trying to exceed their jurisdiction in an attempt to regulate crypto firms. Industry leaders, lawmakers and members of the agency, including Commissioner Hester Pierce, previously accused SEC Chair Gary Gensler of attempting to establish the agency as the de facto regulator for crypto by regulating through enforcement.
Data from CoinMarketCap shows that at press time, XRP was trading at $0.36, down 2.6% over the past 24 hours. Meanwhile, XRP’s daily trading volume increased by 33.6%.Subscribe to get it daily in your inbox.
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