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Brad Garlinghouse, CEO of Ripple, in an announcement, shared that Ripple’s two-year lawsuit with the United States Securities and Exchange Commission (SEC) can reach a conclusion before the year-end.
The Case Could Conclude By The End Of The Year?
Recently, the CEO revealed in an interview with Charlie Gasparino, a Fox Business correspondent, that the ongoing suit has gone “quite well,” and the case is not only significant to Ripple but the whole crypto space.
The CEO points out that it appears that the Judge knows the importance of this case as it would set a precedent. He says that we’re approaching summary judgment filings, and now everything is in front of the Judge by the end of November.
Garlinghouse further said that to think that the case will end this year is an “optimistic view”; however, he added that it’s not impossible.
Both the parties have to submit the fully briefed motions for summary judgment before November 15. This is according to the new summary judgment briefing schedule, altered by Judge Annalise Torres early in April.
After which, the Judge will review the case and provide a verdict. The conclusion of Ripple’s ongoing suit with the SEC depends on the time the Judge will take to review the case.
SEC Is Prolonging the Case For As Long As Possible: Garlinghouse
The agency, many a time, has tried to delay the case, according to Garlinghouse. He also says that most of the arguments put forward by Gary Gensler, the SEC chairman, are senseless. The CEO further adds that ‘justice delayed is justice denied.
He also said that although the SEC has tried to prolong the case, they, on their part, tried to move things as quickly as possible; we’ll continue to move as quickly as we can,” he added.
In February, Joseph Hall, an attorney, and former SEC worker, Ripple had an upper edge in the ongoing lawsuit. Hall also believes that in the first place, the commission shouldn’t have filed a case as there is no good reason for it. Hall says that there are very high chances that the U.S watchdog loses all the merits.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
