 ▲Fortune |
While the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple for selling undocumented securities, Ripple CEO Brad Garlinghouse said “We are working on an agreement with SEC.”
According to DiCrypto on the 8th (local time), Garlinghouse CEO explained the contents of the Ripple-SEC lawsuit through Twitter.
Regarding the agreement with the SEC, “It is difficult to explain the specifics, but we made considerable efforts to reach the agreement,” said Garlinghouse. We will continue to strive.”
He explained that “Ripple cannot control XRP’s listing, holding, and other activities (such as suspension of transaction support) on the exchange of XRP,” and “because it is an open source’decentralized’ form.”
In addition, regarding the question of’whether you paid a premium to the customer’, he explained, “The act of providing economic incentives to partners using our ODL products was completely’legal’.” .
After Ripple was sued by the SEC, XRP’s price plummeted, and transaction support from global cryptocurrency exchanges and liquidity providers was suspended one after another. However, Ripple’s main partner, Chairman Kitao Yoshitaka of Japan’s SBI Group, expressed strong support, saying, “I think Ripple will be the final winner in the lawsuit. SBI Holdings remains a firm partner to Ripple.”
The industry believes that Ripple is unlikely to win a lawsuit against the SEC. In fact, both Telegram and Kik, who sued for similar charges, paid large settlements and agreed with the SEC. In particular, Telegram’s TON project was completely suspended after refunding to investors.
“The scenario that Ripple wins a lawsuit against the SEC is’a delusion’,” said Stephen Palley, partner of Washington-based law firm Anderson Kill, on Twitter. It should be done.”