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Ripple CEO Brad Garlinghouse recently sat down with CNBC and China Tech correspondent Arjun Kharpal to speak about his current stance regarding the Ripple vs. SEC lawsuit. He spoke about how cryptocurrencies have evolved over time to the point where these technologies are solving real problems. In a question to Kharpal about whether they are planning to settle it with the SEC, Garlinghouse stated that they are always willing to settle.
#Davos: Caught up with @ripple CEO @bgarlinghouse whos thinks SEC lawsuit will be resolved in the first half of this year.
— Arjun Kharpal (@ArjunKharpal) January 18, 2023
"Optimistic this will certainly be resolved in 2023, in maybe the first half. I feel very good about where we are relative to the law and the facts." $XRP pic.twitter.com/FcgerTM0Xn
Garlinghouse also stressed that XRP is not a security and highlighted Gensler’s words that he views almost all cryptocurrencies except Bitcoin as a security. He also shared his optimism about a resolution to arrive in the first half of 2023.
Garlinghouse stated:
Optimistic this will certainly be resolved in 2023, in maybe the first half. I feel very good about where we are relative to the law and the facts.
Ripple’s CEO also highlighted that cryptocurrencies, including Ripple, are thriving outside the United States. In contrast, when speaking about the SEC, Garlinghouse stated that the agency’s behavior thus far has been embarrassing. He also stated that the US is not on the list of regulators that are developing crypto-friendly rules.
The lawsuit began in December 2020, when the SEC sued Ripple, claiming that XRP is a security. For over two years, the case has been dragging on, and Ripple has been making its stand to win the battle. XRP is the sixth-largest cryptocurrency by global market cap. According to CoinMarketCap data, the market cap of XRP is approximately $20 billion.