Ripple CEO Brad Garlinghouse is confident about resolving the long-standing legal battle with the U.S. Securities and Exchange Commission (SEC) after an upcoming meeting next week. Garlinghouse hinted that a settlement might be near, particularly following a closed-door meeting with the SEC. While he did not explicitly confirm ongoing settlement talks, his optimistic remarks suggest a potential end to the years-long litigation.
Anticipation Around Upcoming Meeting
The upcoming meeting initially expected last week but now postponed to Thursday, July 25, has intensified speculation about a possible settlement announcement. The SEC’s website notes the delay, which has increased anticipation among crypto traders. The meeting’s agenda includes key topics such as the institution and settlement of administrative proceedings, resolution of litigation claims, and other examination-related matters. Despite the rescheduling, the market remains hopeful for a positive outcome.
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Industry optimism has grown since Judge Torres’ pivotal summary judgment a year ago, which legally clarified that XRP is not a security. This judgment has been influential, inspiring similar rulings in other cases like Binance, and challenging the SEC’s stance under Chair Gary Gensler. For example, Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized that the court’s decision significantly checks the SEC’s overreach. He criticized the ongoing litigation for individual tokens and urged policymakers to expedite legislative clarity to prevent the U.S. from lagging globally in the crypto sector.
Projected Future For Ripple
Meanwhile, Brett Hill, a Bitrue Ambassador, has projected an exciting future for Ripple. He anticipates an IPO and an XRP ETF this year or in 2025 following a lawsuit victory. Additionally, the Ripple CEO expressed optimism about reaching a final resolution in a July 18 report.
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During a recent Bloomberg interview, he acknowledged the uncertainty in predicting the timing of the highly anticipated final judgment. While the exact timing of the final resolution remains uncertain, the upcoming meeting with the SEC has heightened expectations for a positive outcome.
The market remains hopeful, and industry leaders continue to push for legislative clarity to ensure the U.S. maintains its competitive edge in the global crypto sector.
