Ripple CEO Brad Garlinghouse has commented on his legal battle with the U.S. Securities and Exchange Commission (SEC) at the World Economic Forum in Davos on Wednesday, explaining just how important the Hinman documents are to the lawsuit. He suggested again that it would be
As Bitcoinist reported, speculation about the document’s relevance has been going on for quite some time. At one point, XRP community attorney John Deaton even thought the document could force the SEC to settle with Ripple, but has recently moved away from that theory.
Nevertheless, as Ripple CEO Garlinghouse explained in Fireside, chat The crypto community can expect explosive revelations once Hinman’s emails go public yesterday. Garlinghouse said the public would be surprised at his SEC’s actions if the emails “came to light.”
Ripple’s CEO stresses the need to be vague on the matter because “some of this stuff hasn’t been made public yet” due to ongoing lawsuits and the fact that documents have yet to be made public. Did. But Garlinghouse says:
The SEC’s Corporate Finance Director, Bill Hinman, gave a speech in June 2018 about ETH being a security, but it has not magically become a security.
And there are some emails related to it. If they come to light, I think we’ll see more of the possibility that the SEC has decided to file a lawsuit against Ripple, given what they’re saying within their walls.
— Futch (@xrp_futch) January 18, 2023
Ripple CEO Reveals More Shocking Facts
Additionally, Garlinghouse again criticized the SEC’s regulation through enforcement. “This is by no means an efficient way to regulate. If you want to regulate, do the work and write the rules.” […] If a company comes to you and says, “Help me understand the rules. I want to make sure they follow the rules.” Help them understand the rules,” said Ripple’s CEO.
In a Fireside chat, Garlinghouse also revealed that he had three personal meetings with the SEC, though the SEC did not speak once during those meetings. “Hey, XRP could be a security.”
So Ripple’s CEO attacked the SEC about the SEC’s ambiguous stance that it viewed XRP as a security from the beginning, but never spoke to the company and its CEO. It doesn’t feel like a true partnership between departments,” continued Garlinghouse.
He also agrees with Ripple general counsel Stuart Alderoty’s final assessment that the two-plus-year legal battle with the SEC will be resolved within “single-digit months,” and is confident of a positive outcome. added.
We look forward to a definite decision from the judges in 2023. But I’m optimistic that it will close sometime in the coming single-digit months.
At the time of writing, XRP was trading at $0.3841. This keeps the price still below the key resistance zone between $0.40 and $0.43.
Featured image from Twitter, chart from TradingView.com