The lawsuit filed by the SEC in December 2020, alleging that Ripple Labs Inc, Brad Garlinghouse, and Chris Larsen illegally used XRP as an unregistered security to raise $1.3 billion, has continued. delayed until 2023. This has caused such irritation that CEO Brad Garlinghouse is threatening his ability to leave the country in the event the court rules in favor of the SEC.
Brad Garlinghouse made this wish clear in an interview with Axios Media during the Collision conference in Toronto. He stated that if Ripple loses the lawsuit, the company will not consider leaving the US but will immediately do so and said that even if the SEC wins, the regulator will not change anything. The crypto industry is growing rapidly.
In mid-April, Ripple appeared to have won a substantial victory in its case against the SEC after Judge Sarah Netburn ruled against the SEC’s request to review the protection of certain documents by evidence for a speech by former Director William Hinman stating that Bitcoin and Ether are not securities.
However, the case is still causing controversy for Ripple as the SEC repeatedly tries to turn the tide by rejecting the argument that Hinman should not have made this speech because he has specific interests.
with BTC and ETH.
This point has been mentioned many times by Garlinghouse in a series of interviews throughout 2022. Comparing the nature of XRP to Bitcoin (BTC) or Ethereum (ETH), he said XRP is a currency, not a currency. are securities.
Notably, the CEO of Ripple further revealed that he hopes that if the lawsuit ends as planned, the company will likely conduct an IPO, which Ripple has been very ambitious in April 2021, but the plan This plan at the time was only suggested by Ripple’s largest shareholder – SBI Group.