- Ripple CEO Brad Garlinghouse is expecting a verdict in the lawsuit against SEC within weeks.
- Garlinghouse expects an expedited timeline for the resolution following the recent decision regarding the Hinman documents.
- Garlinghouse believes a favorable verdict will go a long way in fostering regulation and transparency in the crypto industry.
Brad Garlinghouse, the man behind enterprise blockchain solution firm Ripple, expects a resolution in the controversial lawsuit filed by the U.S. Securities and Exchange Commission (SEC) within the next few weeks. Garlinghouse’s ETA on the resolution presents an expedited timeline as compared to the community sentiment, which estimated that a verdict may take months.
Garlinghouse’s comments came during an interview with Mukaya Panich, the CEO of SCB 10X. SCB 10X is currently hosting its 4th Annual DeFi and Web3 Virtual Summit, featuring industry leaders like Circle Chief Jeremy Allaire, Arbitrum CEO Steven Goldfeder, Chainalysis CEO Michael Gronager, and Curve co-founder Michael Egorov.
When asked about the ongoing battle with the SEC, Brad Garlinghouse revealed that he expects a decision within weeks and not months. The Ripple CEO’s estimation of a resolution is based on the recent decision of the overseeing judge to deny the securities regulator’s motion to seal the infamous Hinman documents, which Garlinghouse believes is an indicator of the court’s sentiment.
The Hinman documents are internal communications and speeches related to William Hinman, the SEC’s former Director of Corporation Finance, who stated in 2018 that Ethereum is not a security. The SEC has made several attempts to seal these documents, given the precedent they may set in the ongoing lawsuit against Ripple.
Brad Garlinghouse also accused the SEC and the Biden administration of putting politics ahead of smart policy, leading to crypto entrepreneurs and innovation moving out of the United States. The Ripple CEO stated that the regulatory landscape in the U.S. is part of the reason why most of his firm’s clients are not from the U.S.
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