Brad Garlinghouse, the CEO of Ripple, has recently hinted at when the long-standing XRP lawsuit between Ripple, the San Francisco-based cross-border payment firm and the United States Securities and Exchange Commission (SEC), would end.
In a conversation with panelists at the DC Fintech on the 11th of October 2022, Garlinghouse said that the lawsuit is getting closer to an end, but it could still last for a couple of months.
Read Also: Ripple CEO: SEC Is Busy Scrutinizing XRP While U.S. Continues To Lag Behind Other G20 Countries
Recall that it’s being speculated in the crypto community that the Ripple-SEC case could end by the end of the year due to recent developments.
According to the Ripple CEO, he expects the lawsuit to linger till the first half of 2023. However, he admitted that when the case would end is hard to predict.
Garlinghouse described the case as the pacemaker for the crypto community in the United States. So, he thinks its outcome will have a great impact on both the U.S. and the crypto industry worldwide.
Brad Garlinghouse noted:
“Federal judges work at their own pace… optimistically we’re talking about 3-4 months, pessimistically it could be longer than that.”
Speaking about former SEC Division Director William Hinman’s 2018 speech regarding the security status of Ethereum (ETH), Ripple CEO affirmed that the Judge has ordered the SEC to release the details on six occasions.
Read Also: Macro Expert Raoul Pal Says He’s Bullish on XRP, Hopes Ripple Wins to Boost XRP Price
The recent order came on September 29 when Judge Analisa Torres ruled that the SEC should hand over the draft of William Hinman’s speech of 2018, which has been the bone of contention between the two parties over the past months.
Is There Any Possibility For A Settlement?
There have been speculations regarding the possibility of a settlement in the XRP lawsuit and Garlinghouse also confirmed that the firm has opened its door for it with a condition.
According to the Ripple CEO, a settlement with the SEC can only be considered if XRP is not classified as a security.
Follow us on Twitter, Facebook, Telegram, and Google News
