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In a recent interview at DC Fintech Week 2023, Ripple CEO Brad Garlinghouse shed light on the ongoing legal battle with the Securities and Exchange Commission (SEC). The revelations have sent shockwaves through the crypto and Ripple community.
Settlement Offer and Withdrawal
During the interview, Garlinghouse disclosed that he had been offered a potential middle-ground solution to resolve the legal dispute outside of court. However, this option was later withdrawn “with prejudice.” Garlinghouse interprets this as a clear sign of Ripple’s strength in the case, stating, “It feels quite satisfying.” He believes that the offering and subsequent withdrawal strongly indicate that the opposition lacked confidence in winning the case.
Ready to Fight to the Supreme Court
Despite the uncertainty surrounding the case, Garlinghouse is determined to see the legal battle through to its conclusion. He expressed his readiness to take the matter to the highest court in the land. The SEC has hinted at the possibility of filing an appeal against the US District Judge Analisa Torres’ ruling, suggesting that the case could ultimately reach the Supreme Court. Garlinghouse affirmed, “I think that definitely could happen,” reiterating Ripple’s commitment to see the case through.
Garlinghouse also called for accountability within the SEC, citing the controversial “Hinman emails” that emerged during legal proceedings. These emails have ignited a debate about the commission’s role in the cryptocurrency industry.
International Cryptocurrency Adoption
Additionally, Garlinghouse highlighted the notable institutional adoption of cryptocurrencies in countries with transparent regulatory frameworks, such as Japan, Switzerland, Singapore, the UK, and Australia. These countries have successfully attracted capital investments and entrepreneurs, contrasting with the regulatory environment in the United States.
Ripple’s resolve to stand its ground and the SEC’s potential appeal mean the legal battle is far from over. Ripple continues to assert its commitment to fight for its position in the crypto industry, potentially to the Supreme Court.