The crypto community is still waiting for the conclusion of the case between one of the world’s most powerful regulatory agencies and one of the most popular cryptocurrencies. Crypto enthusiasts and lawyers interested in the developing demand for crypto laws and regulations are closely following the case.
Despite the fact that the case appears to be stagnating, Garlinghouse has recently declared his faith in the case. This occurred during an interview with CNBC in Abu Dhabi at the fintech festival. The litigation between the SEC and Ripple Labs, according to Garlinghouse, is progressing well.
Great to catch up with you @dan_murphy at #FTAD ! Despite (regulatory) headwinds in the US, @Ripple has had a blockbuster year with ODL expansion & MENA traction, and we are gearing up to hire a few hundred people next year to fuel our growth. 1/2 https://t.co/iJJAjdof6Y — Brad Garlinghouse (@bgarlinghouse) November 23, 2021
He had just said that despite the slowness of legal processes, numerous countries were making positive progress in cryptocurrency rules. Ripple will be hiring additional people in 2022, according to Garlinghouse, as they prepare for growth and expansion. As of this writing, the SEC has not responded to Garlinghouse’s comments.
Also Read This Move By The SEC, Will Turn The Legal Case In Ripple’s Favour!
What’s Ahead For Ripple Vs SEC
According to Garlinghouse, the SEC vs. Ripple lawsuit, which has dragged on for nearly a year, maybe nearing a conclusion shortly. He claims that the judge hearing the case is now asking more and more detailed questions as he realizes the significance of the case’s conclusion.
As a result of these developments, the market appeared to restore some confidence. Ripple’s growth inactivity has been substantially higher, according to a recent Santiment analyst. The ledger has raised the number of active addresses on a daily basis to a new high of 142.7 thousand, representing a more than 11x increase inactivity.
According to a Bloomberg story, Ripple’s general counsel Stuart Alderoty stated that the present government has been “hostile” to the regulator. As a result, Ripple proposes that the Commodity Futures Trading Commission play a larger role.