Ripple CEO is Setting His Sights High: He’s ‘Optimistic’ About XRP Suit
We all know the infamous lawsuit between Ripple and the SEC that has been the talk of the town for months. And against everyone’s expectations, the Ripple CEO, Brad Garlinghouse is feeling positive about its outcome. That’s right: despite the seemingly uphill battle that Ripple is facing, Garlinghouse is feeling confident about where things stand.
Garlinghouse is ‘Optimistic’ Despite Bids for XRP to be Declared Unlawful
In an interview with Bloomberg, Garlinghouse revealed that he believes the company can work out a deal with the SEC that would pave the way for the cryptocurrency.
“I feel very good about where we are,” he said. “I’m optimistic that there is a path forward in the U.S. where XRP can be a viable, regulated digital asset. I don’t think it needs to be a security”
Despite the undoubtedly tough situation Ripple finds itself in, Garlinghouse remains remarkably upbeat. He’s no doubt fueled by his fervent belief that, as an open-source technology, XRP should be labelled as a currency rather than a security.
Ripple’s Lawsuit is Underpinned by a Number of Factors:
This isn’t a case of bravado. The suit has a number of things going in Ripple’s favor, the most important being:
- XRP Is Overly Distinguished From Ripple: XRP doesn’t necessarily have to be a security if it’s separated from the company Ripple. This is already the case, as XRP is traded on over 200 exchanges, and it can be acquired and utilized in many ways even without Ripple’s involvement.
- SEC’s Own Hand Will Not be Forced: The verdict will not be handed over to the SEC. The jury will ultimately decide whether XRP is to be labelled as a security or not.
- It’s Already Legal in Some States:Currently, XRP is considered to be perfectly legal in some states, and it’s even used in countries such as Thailand by a government agency.
The Cryptocurrency Community is Cross Fingers for the Outcome
While there are good chances of this case turning in Ripple’s favor, only time will tell how the lawsuit will unfold.
Nevertheless, the whole cryptocommunity is hoping things work out in Ripple’s favor. After all, an overwhelming outcome of this lawsuit could be a great boost to the widespread attention that cryptocurrencies have been garnering in recent weeks and months.
Fingers Crossed For Ripple!
So, on the one hand, this is great news for Ripple and its supporters! On the other, it’s a battle that Ripple will have to face until a conclusive decision is established.
No matter the outcome, you can bet a lot of eyes will be closely paying attention to the lawsuit between Ripple and the SEC. Who could know what this outcome might mean for the future of cryptocurrencies as a whole?
Only time will tell!
