Ripple [XRP] CEO Brad Garlinghouse has revealed a timeline for the verdict of the ongoing lawsuit with the U.S Securities and Exchange Commission (SEC).
In a 3 March interview with Bloomberg TV, Garlinghouse stated that he expected a decision on the controversial lawsuit this year.
The lawsuit has been going on since December 2020. According to the Ripple CEO, the verdict in this case will be pivotal for the crypto industry, not only in terms of setting a legal precedent for which crypto assets qualify as a security, but also defining the jurisdiction of United States regulators like the SEC.
Brad Garlinghouse has maintained that XRP is not a security, and that it is used by his firm to address issues related to cross-border settlements.
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