Brad Garlinghouse signals a successful resolution of the SEC dispute in 2022

Ripple is making “significant progress” in its case with the U.S. Securities and Exchange Commission (SEC), the company’s CEO Brad Garlinghouse told CNBC. In his view, the dispute could be wrapped up in 2022.

“Despite the slow legal process with the SEC, we see solid progress. The judge is asking good questions, understanding that the case is not solely about Ripple,” said the head of the firm.

He also stressed that any decision “will have wide implications for the entire cryptocurrency industry.”

In December 2020 the SEC charged Ripple and its executives with the unregistered sale of securities as XRP tokens worth $1.3 billion. Later the suit was amended, focusing on the actions of Brad Garlinghouse and co-founder Chris Larsen.

The CEO called the Commission’s claims regulatory caprice and a horrendous precedent for the entire industry. Later he accused the SEC of inaction regarding cryptocurrency regulation.

In the CNBC interview Garlinghouse named the UAE, Japan, Singapore and Switzerland as countries at the forefront of developing the regulatory framework for digital assets. Larsen mentioned the latter three in October 2020, describing Ripple’s plans to leave the United States due to over-regulation.

“Overall, the trajectory of the case is very good,” Garlinghouse concluded.

Earlier Judge Sara Netburn ordered Ripple to provide the regulator access to employees’ Slack messages.

In October the Commission demanded audio- and video-recordings of meetings, in which Garlinghouse and Larsen, as well as other senior executives discussed topics related to the lawsuit.

Earlier in November, Netburn ordered Ripple to provide the information requested by the SEC.

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