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Ripple Lawyer Confident SEC Case Will End in April

Ripple, SEC, lawsuit, XRP
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Attorney Jeremy Hogan, who is part of the Ripple community, said the Securities and Exchange Commission’s lawsuit against Ripple may be nearing completion.

In a report on Monday (Jan. 3) from FXStreet, Hogan said there is little chance of the case extending beyond April 2022, when it will likely expire, and these developments have caused Ripple to see a bullish narrative on price.

In November, Ripple CEO Brad Garlinghouse said the company was making “good progress despite the slow legal process.”

Garlinghouse also said recently that the judge in the case appears to have realized that the case was not just about Ripple, and that it would have larger repercussions in general.

PYMNTS writes that the controversy arose in 2020, when regulators allege that Ripple executives sold $1.3 billion in the company’s XRP digital assets, which the SEC considers an “unauthorized security.”

See also: Ripple CEO’s lawsuit moves in the right direction

Ripple sees XRP as not a security, but due to the lawsuit, XRP – once the third largest cryptocurrency in the world – has been taken down by several exchanges, including Coinbase.

Ripple services have allowed financial services companies to send remittances across borders in an affordable manner. The company also offers a product called Liquidity On Demand, which helps with cross-border payments.

PYMNTS wrote that the latest valuation of Ripple as a private company was $10 billion. The company is also backed by large investors such as GV, the venture capital arm of Alphabet, along with Andreessen Horowitz and SBI Holdings of Japan.

With the lawsuit continuing since 2020, Ripple previously referred to other coins such as Bitcoin and Ethereum, questioning why these coins were excluded from SEC guidelines.

PYMNTS indicates that regulators have been looking more into cryptocurrencies, with the largely unregulated industry continuing to make headlines. An effort is currently being made to create a global framework for digital assets, with individual countries continuing to set the rules they want.

Related: Binance is not authorized, Canadian regulator says

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