Ripple Conveys Greater Confidence Than Ever Before the Highly Anticipated SEC-XRP Decision
The U.S. Securities and Exchange Commission has launched a lawsuit against Ripple, saying that the payments business offered XRP as an unregistered security. Ripple is providing an update on the litigation.
In its fourth-quarter report for 2022, Ripple states that it anticipates a ruling this year and is “more confident” than ever prior to the verdict being rendered.
Ripple’s reply brief in support of its petition for summary judgement, in which the firm urged the court to rule in its favour, was made public on December 2.
Ripple is more confident than ever as it awaits the judge’s judgement after two years of litigating this lawsuit on behalf of the whole crypto sector and American innovation. The case has been thoroughly briefed, and Ripple is proud of its defence and feels more confident than ever.
The timing of the decision is in the hands of the judge, although the firm anticipates a judgement in 2023.”
Ripple CEO Brad Garlinghouse predicted last month that the payments company will get a judgement in the “coming single-digit number of months,” despite the fact that the courts have not specified when a judgement is expected to be issued.
Garlinghouse commented on the potential of Ripple reaching a settlement with the SEC. “The only way Ripple will settle, and I’ve maintained this from the start, is if there is clarification that XRP is not a security going forward…”
David Schwartz, chief technical officer of Ripple, stated recently that XRP meets the criteria of a commodity.
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