Ripple doesn’t plan on settling with the US SEC; instead, it has confirmed that it is more than willing to go to trial with it in order to make the crypto market fair.
The US SEC accused Ripple nine months ago of offering unregistered securities, a claim which Ripple has denied.
As neither side has reached an agreement, the result is a trial that will have a ripple effect in the crypto industry (no pun intended!)
The CEO of Ripple, Brad Garlinghouse, said:
“Chris and I had the option to settle separately. We could do that, and it would all be behind us. NOT happening. That’s how confident Chris and I are that we are right. We will aggressively fight – and prove our case – through this case we will get clear rules of the road for the industry here in the U.S.”
As a result of the investigation, it was also discovered that the SEC didn’t really play fair either as it did not offer a reasonable notification to Ripple and it didn’t make clear the scenarios when they looked for assistance.