It’s been almost a year since the SEC Ripple, the company behind XRP, lawsuit. Ripple is accused of illegally selling $1.3 million XRP as unregistered securities.
ripple progress
According to Ripple CEO Brad Garlinghouse, the lawsuit is slowly coming to an end. In an interview with CNBC published on November 23, he claimed that Ripple is making “good progress” in the lawsuit.
Ripple sees ‘good progress’ in SEC status on XRP, outcome expected next year https://t.co/Pp4cdszTMf
– CNBC November 23, 2021
“Obviously we see good questions from the judge. The judge understands that this is not just about Ripple; this will have broader implications.”
According to Garlinghouse. He has repeatedly claimed that the lawsuit is not just an attack on Ripple, but on all… Cryptocurrency Market. Not everyone agrees with that. This case appears to be related to the high degree of centralization around XRP versus the decentralized nature of other cryptocurrencies.
Garlinghouse has reported that he expects the lawsuit to end sometime in 2022. The market remains nervous about the potential consequences. Recently, Brian Armstrong, CEO of Coinbase, said:, the biggest Cryptocurrency exchange From the United States he believes the lawsuit is going better than he expected. Coinbase was one of the first major exchanges late last year to immediately remove XRP from the exchange when the indictment was published.
XRP holders can join
Last month, a group of XRP holders led by John Deathon received an XRP fan To be told that they are not allowed to join the lawsuit as victims. They may participate in the form of “amici curiae,” which literally translates as “friends of the court.” They will no longer be part of the lawsuit, but may continue to advise the court.
In the meantime, Ripple is still developing. The company recently announced that it is launching a new service For businesses and financial institutions to use encryption as well Bitcoin (BTC)And Ether (ETH) employment Litecoin (LTC) To be able to buy and sell. It becomes a kind of comparison site to get the best price.
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