Brad Garlinghouse is increasingly optimistic that the case with the US Securities and Exchange Commission will result in a positive outcome for the blockchain-based global payments company.
For more than a year, the San Francisco based fintech company has been battling the U.S. regulator. According to the SEC, the company, Garlinghouse, and executive chairman Chris Larsen conducted an illegal security offering by selling its native token, XRP.
As a result of the judge’s ruling, XRP and other tokens gained an important victory this week when the SEC was not allowed to review certain emails alleging a conflict of interest related to XRP and other tokens.
As a result, exchanges could be required to register with the SEC as brokers, as well as requiring them to register the identities of token holders.