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Ripple vs. SEC: Will a decision be made in June?

A decision on the XRP cryptocurrency is expected by year-end.

By Finst News
• 3 min read
Ripple vs. SEC: Will a decision be made in June?

A decision on the XRP cryptocurrency is expected by year-end. Ripple CEO Brad Garlinghouse is confident in his case and accuses the SEC of fraud.

Brad Garlinghouse, Ripple's CEO, expects the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) to be nearing its end soon. In a View post on X at the World Economic Forum in Davos, he said a ruling could come as early as June. For that to happen, both sides would need to have their arguments for the US District Court fully worked out and fully presented. He added: "we certainly expect a judge's ruling in 2023. You don't really control when a judge makes rulings. But I’m optimistic we’ll get there in the coming months."

Criticism of the SEC

The 51-year-old also highlighted the SEC's embarrassing behavior and criticized Ripple for being misled by the regulator. For the Ripple CEO, a settlement would only be possible if it’s made clear that XRP is not being treated as a security. Whether a final decision will be reached in five months remains to be seen. The lawsuit was filed by the SEC in December 2020, which alleges Ripple sold its XRP token illegally as an unregistered security.

The lawsuit is expected to cost Ripple about $100 million, as Garlinghouse said last year. During the case, investors continue to back XRP. Recently XRP outpaced BTC on CoinShares.

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