Ripple executive Brad Garlinghouse commented on the lawsuit with the Securities & Exchange Commission (SEC) and the upcoming interlocutory appeal of t
The firm has moved 80% of its hiring outside the US. Thebearish stance on crypto and directing firms to register does not mean that the supported assets are securities. He explained how the judge who ruled in the case said that XRP is not a security and the court moved in Ripple’s favor.The CEO is concerned that the government has unlimited resources to keep fighting firms like Ripple, dragging the lawsuit through motions for interlocutory appeal.
While the judge ruled that programmatic sales aren’t considered securities, sales of XRP tokens to institutional investors are indeed investment contracts. In this last case, Ripple did breach the US securities law and will need to keep litigating over the around $729 million it received under written contracts.The ruling offers a partial win for both Ripple and the SEC, depending on what one looks at.
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