LONDON, the United Kingdom – Ripple Labs and its two executives, Brad Garlinghouse and Chris Larsen, continue the battle with the SEC, extending the case until next year. Concrete dates have already been provided regarding how this case will go, so you might likely see a resolution by March of next year.
There have been divisions among people in the cryptocurrency world between support for Ripple and the SEC. Experts, though, are trying to keep a positive outlook on how this case will favour Ripple. This instance has not been the first time that it happened. It also has happened with different assets in the past. But with Ripple’s case, there are notable differences that stood out.
One of those significant things is that the SEC continues to file for an extension in terms of resolving this case. It filed a case against both Ripple Labs and its executives in December of 2020, but until now, the case is still ongoing. What’s surprising here, according to Garlinghouse, is that the SEC wants to move as quickly as it can, as seen in the previous similar cases such as with Telegram and KiK. However, Ripple seems to be slowing things down.
This delaying tactic came from the SEC, both benefits and damages to Ripple. It benefits Ripple by giving it ample time to raise its defence, increasing its chances of winning the case; it damages XRP, however, since controversies like this impact the value of a coin in the cryptocurrency market. Garlinghouse is not losing hope. When he was asked about how he would react if the favour falls on the SEC, he said that right now, it’s as if that is the case, and XRP continues to operate with different partners outside the US.
He added that it is ironic that other countries do not see XRP as security, only the US. Many exchanges have delisted XRP already from the list of their assets following the SEC’s decisions.