The president of Ripple Labs, Monica Long, expects a positive outcome in the lawsuit filed by the US. The Securities and Exchange Commission (SEC) alleges that its XRP token constitutes a security.
In a new interview with CNBC, Long says she is “very hopeful” that the lawsuit will be resolved in Ripple’s favor.
Despite predicting the SEC will lose the lawsuit due to “facts and law” on Ripple’s side, the president of the payments firm believes the crypto industry desires regulatory clarity and certainty.
In terms of the bigger picture of what’s going on in the US on the regulatory front, we’re seeing action through enforcement rather than clear rules and regulation, which is what everyone in the industry really wants.”
According to the Ripple CEO, a decision in the SEC lawsuit against the payments company could be delivered by the end of 2023.
“Both the SEC and Ripple have submitted applications for summary judgment in the SEC case. As a result, the judge must now make a decision.
The recent crypto rally, even in the midst of a banking crisis, including the closure of crypto-friendly banks, is proof that crypto assets and blockchain technology are here to stay, according to the Ripple president.
I believe that Bitcoin, cryptocurrencies, and the industry at large will endure. With those three banks, I think the bitcoin markets have demonstrated some noteworthy resilience, notwithstanding recent developments involving US banks. Three of the most crypto-friendly banks in the United States were Silvergate, Signature, and Silicon Valley Bank.