According to chief executive officer Brad Garlinghouse, Ripple tried to settle with the SEC before the securities suit, with no success. A response from Ripple’s legal team to the cause is predicted to be sent to the SEC “within many weeks.”
After the securities cause by the America Securities and Exchange Commission (SEC) and therefore the original statement by Ripple became illustrious, it had been at the start quiet in each camps. However, Ripple chief executive officer Brad Garlinghouse and General Counsel Stuart Alderoty have currently broken the silence and answered many questions about the SEC cause via Twitter.
Garlinghouse won’t litigate SEC’S unverified allegations on Twitters. RIPPLES :Settlement with SEC before lawsuit failed. Garlinghouse handles 5 key issues
Among them was why Ripple didn’t settle with the SEC beforehand. In a tweet, Garlinghouse spoken Ripple’s plan to settle the cause, stating:
Having tried earlier we will keep trying with the new adminstration to resolve this. To resolve this during a means therefore the XRP community can continue innovating. Shoppers square measure protected and orderly markets square measure preserved.
Moving forward, Garlinghouse unconcealed that “there is alot happening behind the scenes”. Alderoty adds that response to the lawsuit will be filed in a few weeks
To all posing for updates on the SEC lawsuit: no surprise, the legal method takes time! we have a tendency to could also be quiet however we have a tendency to aren’t idle. Our full legal team will announce themselves shortly, we’ll be filing our initial response to the SEC’s unverified allegations soon.
Likewise, Garlinghouse commented on whether or not investors have lost confidence in Ripple as a results of the SEC’s action. The Ripple chief executive officer was presumptively addressing the issues of some community members. Who worry an initial domino in Tetragon’s cause against Ripple for stock redemption.