Ripple CEO Brad Garlinghouse feels good about the lawsuit with the SEC

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Ripple CEO Brad Garlinghouse feels good about the lawsuit with the SEC

Ripple CEO Brad Garlinghouse told Fox Business that he feels very good about the progress Ripple has achieved in court with the SEC.

Garlinghouse Insist Ripple is not a Security 

The Distributed ledger technology provider has managed to score some minor legal victories, and District Court Judge Sarah Netburn partially approved her motion to enforce the discovery.

As Ripple’s legal fight with the U.S. Securities and Exchange Commission stretches into its fifth month. Garlinghouse said:”Look, I feel really good about the progress that’s been made in the courts so far.”

Garlinghouse continues to insist that as an open-source technology, XRP is no different from Bitcoin and Ethereum, as Ripple continues to deny having created the token.

He also mentioned that the fact that BitPay, one of the leading payment companies supports XRP which is one of the reasons why the token is not a security:”This is one of the many examples of how XRP is not a security. It’s used as a currency. Ripple has used it as a currency to solve the cross-border payments problems.”

Earlier this month, Garlinghouse and Ripple co-founder Chris Larsen, identified as individual defendants in the SEC complaint, also filed a joint motion to dismiss the heinous lawsuit.

Garlinghouse Denies Harassing the SEC

The dispute between Ripple and the US Securities and Exchange Commission continues to intensify, and the regulators are now accusing the company of harassment.

It was reported, the SEC is now requiring judges to limit the scope of the discovery process to their external documents, thereby prohibiting Ripple from accessing its internal communications.

However, Garlinghouse denied that his company was trying to harass the SEC: It’s hard to imagine a small company like Ripple against U.S. Securities and Exchange Commission could be described as harassing. You know, Jay Clayton, under his leadership, decided to bring this lawsuit, and we gonna defend ourselves.