Ripple CEO Says SEC Case May Be Resolved This Year

Alex Dovbnya

Garlinghouse Says It’s “Not Impossible” That SEC Case Will Be Resolved Already This Year

In a recent interview with Fox Business, Ripple CEO Brad Garlinghouse said the company’s ongoing legal battle with the US Securities and Exchange Commission has gone “pretty well.”

The case, which is expected to set the agenda for the entire cryptocurrency industry in the future, is now approaching summary judgments. Garlinghouse says the matter could be resolved this year, but that is the “optimistic” view. “It’s not impossible,” said the director.

As reported by U.Today, summary injunction motions must be fully notified by Nov. 15, according to the court’s revised schedule. The judge will then have to review the case before announcing the verdict.

Ripple’s CEO believes the case will set an important precedent in the industry.

Garlinghouse took a jab at SEC chairman Gary Gensler during the interview, claiming that many of his topics of conversation “are wrong.” He also criticized the agency for trying to delay the case at any time.

Generation Shifts

As reported by U.Today, Berkshire Hathaway CEO Warren Buffett redoubled his disdain for Bitcoin during a meeting with shareholders that took place last week. The world’s sixth richest person would not want to buy all existing Bitcoins for $25, lamenting the cryptocurrency’s lack of utility.

Garlinghouse, a former Yahoo executive, says technology shifts are hard to track. He believes that blockchain technology can make the financial system more open and efficient. Garlinghouse says he won’t waste time convincing Buffett or Charlie Munger, his right-hand man, to attribute their disdain to generational changes.

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