Brad Garlinghouse is hopeful that the lawsuit will be completed this year.
The lawsuit initiated by the SEC began in 2020 when the regulator accused Ripple and its executives of selling unregistered securities.
“We have always said that we would love to settle, but it requires one very important thing, and that is that, on a go-forward basis, it’s clear that XRP is not a security.”, and the majority of all crypto assets, are securities. Therefore, in his opinion, they need to register and abide by the same rules as stock brokerages.
Gensler has also suggested that Ethereum is a security due to its staking mechanism, which results in the “investing public anticipating profits based on the efforts of others.”
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