Brad Garlinghouse, CEO of Ripple began to look more optimistic that A long-term battle with the Securities and Exchange Commission (SEC) will have a positive effect on his company.
Speaking on stage at the conference Paris Blockchain Week On Thursday, Garlinghouse told attendees that “The outcome of the long litigation was much better than he had expected.”
“This case went well. And it’s much better than I expected. than when it first started 15 months ago.”
Such opinions are made. It follows RippleNet’s lawyers’ announcement that Ripple has received a “big win” from the SEC after Chief Justice Sarah Netburn rejected the SEC’s request to consider protecting the document under a privilege. The document relates to a speech by former SEC director William Hinman: Bitcoin (BTC) and Ethereum (ETH) is not classified as a securities.
“This case is important. It is not just for Ripple, it is important for the entire crypto industry in the United States,” Garlinghouse said.
He added that if Ripple loses the lawsuit, an example could be set to demonstrate that. Most crypto coins on exchanges are classified as “securities” by the SEC.
that means The exchange board will be required to register with the SEC to identify all token holders.
“If you consider that XRP As Ripple securities, we have to know everyone who owns XRP,” he said. “That’s the SEC requirement, you have to know all the shareholders. which is impossible.”
Ripple’s latest win, however, may distance the SEC fromattack the industry crypto one step further
source: cointelegraph