disputes the claim by stating that the coin is not an investment contract<\/strong>, but rather is used in the company’s activities to facilitate cross-border transactions between banks and other financial institutions, and is not considered by them to be an investment contract.<\/span><\/p>\nThere was a final round of briefs submitted by Ripple and the SEC to seek a summary judgment in the case in December, in which both sides accused the other of stretching the law. If the judge decides that either side should be allowed to proceed, a trial could be avoided or the judge could put the matter before a jury to decide.<\/p>\n
<\/p>\n
According to Garlinghouse, sometime within the next two or three months, there is likely to be a ruling – possibly even as soon as June, if all goes well.<\/span><\/p>\nIt was the conduct of the SEC in the course of its legal battle with his firm that Garlinghouse criticized with a stern tone in a separate fireside chat with CNBC’s Arjun Kharpal on Wednesday, in which he called the SEC’s actions ’embarrassing’.<\/strong><\/span><\/p>\nInterestingly, he said, the U.S. is “notably absent” on the list of regulators that are creating crypto-friendly rules. According to him, some of the forefront countries in this regard include the United Arab Emirates, Japan, Singapore, Switzerland, and the United Kingdom<\/strong>.<\/span><\/p>\nRipple has fought to obtain documents related to a speech that Bill Hinman gave in June 2018 on behalf of the SEC, which it believes has helped it in its case, as part of the legal proceedings. As Hinman explains in his speech, the sales of rival, Ether, “are not securities transactions” and are not securities.<\/span><\/p>\nIf the judges vote in favor of Ripple, then the outcome of the XRP lawsuit can be extremely beneficial for the coin<\/strong>. On the other hand, the other side can pose a very challenging challenge for the other crypto companies operating in the United States.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"The CEO of Ripple, Brad Garlinghouse, in an interview with CNBC, said his firm’s case should be over within a few months.<\/p>\n","protected":false},"author":13,"featured_media":131388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90,70,74],"tags":[4805,4816,4918],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/131385"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=131385"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/131385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/131388"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=131385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=131385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=131385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}