According to the CEO of Ripple, Brad Garlinghouse, his company might be close to concluding the long legal dispute with the SEC. Garlinghouse has particularly expressed optimism regarding the possibility of a decision by the end of the summer.
Let’s see all the details below.
Summary
Reaching an agreement with the SEC: positive prospects for Ripple
As anticipated, Ripple’s legal dispute could finally be approaching its long-awaited resolution. According to Ripple’s CEO, Brad Garlinghouse, the company is moving towards the conclusion of the long legal battle with the SEC.
“Why did the SEC start with XRP…? Looking at us now, it seems that we are almost at the end of this journey,” commented Garlinghouse. Although not knowing an exact date for the resolution of the case, he jokingly indicated September 21 as “the end of summer.”
“The judge’s decision will come when it comes. I think it could be by the end of the summer. Someone asked me if it would be by the end of August, but I pointed out that September 21 is still considered late summer, so I don’t know.”
The CEO of Ripple also highlighted the peculiar position of XRP in the United States in terms of regulatory clarity:
“In the United States, XRP is one of the few things we can say with certainty that it is not considered a security like ETH. I don’t know what the outcome will be, but the U.S. market continues to lag behind due to the regulatory environment, even though Ripple is getting closer to the end of this controversy.”
Furthermore, he also criticized the president of the SEC, Gary Gensler, calling him “rather hostile” towards criptovalute.
The CTO of Ripple, David Schwartz, noted that, although the U.S. market is crucial, global regulatory challenges are manageable and business outside the United States is proceeding well, according to the executive.
Currently, Ripple is involved in a dispute with the Securities and Exchange Commission of the United States regarding the possible fines and penalties it might have to face.
On May 14, Ripple filed a motion to seal certain documents submitted in connection with the motion for judgment and the remedies requested by the SEC.
XRP and Archax pioneers in the tokenization of assets on XRPL
Recently, the partnership between Ripple and Archax has taken a step forward in introducing several hundred million dollars of real-world tokenized assets on XRP Ledger within a year.
Archax, a company regulated by the FCA specializing in the tokenization of real assets, has collaborated with various financial institutions.
By using XRPL, these institutions obtain an efficient platform to tokenize and manage RWAs, paving the way for new innovative applications.
The first signs of this cooperation date back to 2022, when Archax formed a partnership with Metaco, later acquired by Ripple in the summer of 2023, to provide custody services for digital assets.
This demonstrates that Ripple’s strategic vision is making XRPL a valuable resource not only for cryptocurrencies, but also for various other asset categories, including tokenized securities.
The company spokesperson shared similar sentiments:
“With Archax’s capabilities in providing high-level solutions and regulatory compliance, combined with Ripple’s cutting-edge blockchain technology and its global network, we aim to unlock new possibilities for traditional financial institutions in offering their clients access to digital assets.”
The tokenization of RWA on XRPL promises to open new opportunities, including greater liquidity, reduction of transaction fees, and increased transparency in asset management.
This development indicates that both Ripple and Archax are contributing to bridging traditional finance with decentralized technology.
