The lawsuit between Ripple (XRP) and the US Securities and Exchange Commission (SEC) has long been a concern of the world. If Ripple loses, it would mean the end of business in the United States. If Ripple wins, this would be a win for the entire crypto industry in that country. Ripple CEO Brad Garlinghouse yesterday in a interview with Fox Business that it is open to settle, but with one condition.
Ripple’s lawsuit is being followed closely by everyone in the crypto community, especially XRP owners. Motions fly back and forth, each of course with the intent to put the opposing team out of the game. To date, it is not really clear which way things are headed. Ripple did bring up a number of good points in recent weeks, for example by submitting a request to obtain data that should show that SEC employees owned XRP.
For a long time, Garlinghouse took the position that he would not settle with the SEC at any time. He proposes that all crypto projects be pursued in order to gain more clarity in the laws and regulations in the US. Now he tells Fox Business that that door is still ajar:
“As far as we can find a constructive way forward with the SEC, we naturally want to find it. However, there is no scenario when we are going to settle unless there is absolute certainty about what XRP is on the go-forward basis. […] We have a clear vision of how XRP can be an extremely powerful tool… There are many other people in the crypto community and the XRP community who are doing great things with XRP.”
Ripple’s overseas business continues despite the lawsuit. Domestic affairs have been damaged but those abroad are still thriving, according to Fox News’ Charles Gasparino in a tweet earlier this month.
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