Ripple CEO Brad Garlinghouse recently told Fox Business that the continuing legal battle between Ripple and USA’s Securities and Exchange Commission (SEC) may resolve this year. He was talking with Fox Business during an interview and said that the legal battle between Ripple and SEC is going pretty well. His hope for the end of a legal battle by this year-end is although an optimistic approach but it’s not an impossible thing.
Ripple CEO Brad Garlinghouse interview
In the interview, Garlinghouse took a shot at SEC Chairman Gary Gensler and alleged that many of Gensler’s talking points do not make any logic. He also criticized SEC for attempting to postpone the matter at every opportunity. He further expressed that the lawsuit result will create a significant precedent in the industry.
He believes that blockchain technology has the potential to make the financial system more transparent and efficient. However, on the contrary, Berkshire Hathaway CEO Warren Buffett is a critic of cryptocurrencies. During a Hathaway shareholder meeting last week, he reiterated his dislike for Bitcoin. He criticized the cryptocurrency’s lack of utility and expressed that he would not want to acquire all Bitcoins in existence even for $25.
On that, Garlinghouse says he won’t waste time attempting to persuade Buffett or Charlie Munger, his right-hand man, blaming their disdain on generation differences.
Ripple SEC Case current status
The lawsuit is currently in the summary judgement filings stage. According to the court’s new schedule, motions for summary judgement must be completely presented by November 15. After that, the judges will evaluate the matter before making a final decision.
The Ripple-SEC case is a very important legal battle which may likely determine the course of the whole crypto business in the future.
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