Ripple Labs chief Brad Garlinghouse said at the DC Fintech Week 2023 that his blockchain payments firm is willing to take its legal fight with the U.S. Securities Exchange Commission (SEC) all the way to the nation’s highest court.
Ripple Ready To Fight SEC In Supreme Court
Brad Garlinghouse has asserted that Ripple remains unfazed, expressing willingness to fight the SEC case in the U.S. Supreme Court.
Speaking during a recent interview that happened during DC Fintech Week 2023, Garlinghouse expressed his company’s determination, saying, “I think that definitely could happen. I mean, certainly. And we’ve said this publicly. We are in it till the end.”
The Ripple chief’s assertion follows the SEC’s insistence to lodge an appeal against the July groundbreaking ruling, indicating the regulator’s desire to escalate the tussle over the XRP cryptocurrency to the Supreme Court.
Garlinghouse then reiterated that the U.S. has fallen behind other developed markets. He wants the United States to take note of the likes of Japan, Singapore, Switzerland, the United Kingdom, and Australia by creating clear rulebooks that foster crypto innovation while safeguarding consumers.
Despite the U.S. being a big market for most crypto companies, the Ripple boss notes that the clear regulatory frameworks seen outside the country have contributed to the substantial institutional adoption of crypto assets.
Ripple has previously said it’s now doing nearly 90% of its business beyond the U.S. borders.
Ripple Has The Upper Hand In Lawsuit
Garlinghouse also disclosed that he was presented with an opportunity to settle the suit out of court. Interestingly, this offer has since been revoked with prejudice, which he believes is an obvious sign of Ripple’s upper hand in the case.
“That feels really good. It feels like…There’s no chance they were going to win that. Pushing that the way they did, it just feels like the SEC should be part of the solution,” he opined.
Garlinghouse further recalled that the first quarter of 2021 was quite tough owing to uncertainty surrounding the future of Ripple and XRP after the SEC initiated its lawsuit in late 2020. However, Garlinghouse reveals that Ripple has since witnessed its most successful years yet.
XRP has gained 11.4% in the past week as Bitcoin and Ethereum prices hold steady. Bulls may have reacted to positive developments for Ripple, as the company recently secured a key CBDC partnership in Georgia and broadened remittances between Africa, the Gulf, Australia, and the UK in partnership with Onafriq.