Ripple sees no settlement with the SEC

Ripple CEO Brad Garlinghouse ruled out that his company could reach an understanding with the US regulator

Ripple CEO Brad Garlinghouse doubts that the company could reach an understanding with the United States Securities and Exchange Commission (SEC).

These statements are based on the fact that Garlinghouse does not see that there are conditions that guarantee a possible agreement between the parties involved in the case.

Despite this, the CEO of Ripple said that the only way they could sit down to negotiate is for the SEC to recognize that the xrp token is not a security.

The SEC filed charges against Ripple for the 2013 pre-sale of the xrp token, which it classified as an unregistered security. Said dispute reached the courts, and for many critics the trial may be transcendental for the cryptocurrency ecosystem, since it would set an important precedent on the legal definition that would apply to many currently circulating digital assets.

In light of the above, Garlinghouse maintains that the legal battle they are waging comes as a representation of the entire cryptocurrency industry, precisely to ensure that fair conditions are applied to this nascent sector.

K. Tovar

Source: Diariobitcoin

(Reference image source: Protocol)

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