Ripple to escalate SEC legal contention over XRP to Supreme Court
Today, Ripple‘s CEO Brad Garlinghouse made known the firm’s intention to escalate its ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC) over the XRP crypto token to the Supreme Court. This announcement was a focal point of Garlinghouse’s keynote speech at DC Fintech Week 2023.
The conflict between Ripple and the SEC dates back to 2020 when the regulatory body accused Ripple of violating regulations by distributing the digital token without the necessary security registration. This alleged violation has drawn considerable attention from the cryptocurrency sector due to its severity.
Ripple’s determination in this legal battle is evident in their spending, which has already exceeded $150 million on legal defenses. The decision to take their contention to the Supreme Court demonstrates Ripple’s unwavering resolve in this matter.