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Ripple CEO Feels Good About Legal Fight with SEC as Disputes Continue to Heat Up




Ripple CEO: Brad Garlinghouse

The Ripple CEO Brad Garlinghouse says he feels "really good" about the progress his company has made in court in an interview with Fox Business as Ripple's legal fight with the U.S Securities and Exchange Commission stretches into its fifth month.

Look, I feel really good about the progess that's been made in the courts so far.

The distributed ledger tech provider has managed to score a few minors legal wins, with Magistrate Judge Sarah Netburn partially granting its motion to compel discovery.

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

He also mentioned that the fact that BitPay, one of the leading payment firms supports XRP is one of the examples of how the token is not a security:

This is one of the many example of how XRP is not a seurity. 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-who are named as individual defendants in the SE complaint- also filed their joint motions to dismiss the damning lawsuit. 

Ripple against U.S SEC should not be described as harassing

Ripple's discovery disputes with the SEC continue to heat up, with the regulatory watchdog now accusing the company of harassment.

As reported by U.Today, the SEC is now asking the judge to limit the scope of the discovery process to its external documents thus barring Ripple from getting access to its internal communications.

Garlinghouse, however, denies that his company is attempting 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.


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