Bringing together business and government leaders, Davos Summit hosted many important issues. At the World Economic Forum (WEF) held in Davos, Ripple CEO Brad Garlinghouse gave his views on the company’s long-running litigation with the US Securities Exchange Commission (SEC). He also spoke about Bill Hinman, the former director of the SEC.
With the emergence of Hinman records in the Ripple and SEC lawsuit, it was discussed that Ripple could achieve a clear victory. Because in the records, the former director of the SEC, Bill Hinman, was talking about the regulatory agency not considering Ethereum as a security. The narrative that this comment will set an example for Ripple gained weight. Recently, however, there has been some speculation as to whether this document could affect the case. Although the Ripple wing thought that this view would lead the case to a settlement in the worst case, the lack of a change in the process put this thesis into the background a bit. Ripple CEO Garlinghouse, on the other hand, said that he still adheres to this view and claimed that the SEC’s intentions will be revealed if the Hinman documents are made public.
“We’re definitely waiting for a judge’s decision in 2023. You don’t really have control over when a judge makes their decision. However, I’m optimistic that we’ll be closing there in the next single digit months.”
Brad Garlinghouse said that the SEC only has an understanding of regulation through sanctions and that this approach is extremely wrong. Garlinghouse suggested that crypto companies are waiting for guidance to understand the rules and make sure they are doing their job right, but the SEC is not helping companies with this. Ripple CEO also added that they have met with SEC officials 3 times before, and that the officials did not make any statement during this meeting that XRP could be a security. On the other hand, as Garlinghouse said in his previous statements, he expects the case to be concluded in the first half of 2023. However, although it is thought that the case has come to an end, the uncertainty regarding the litigation process remains valid, as the court will make the decision.