(Cointelegraph) Ripple CEO Brad Garlinghouse has shown optimism of its case with the US Securities and Exchange Commission, pointing out that the progress has exceeded expectations.
Garlinghouse comments come when RippleNet community lawyer said that Ripple had secured a “very bin win” against the regulator. The views follow a denial of SEC’s request to reconsider shielding documents under privilege.
Garlinghouse said that the case is crucial not just for Ripple, but the overall crypto industry in the US. He says if the SEC wins the case, it could set a precedent that could see most crypto tokens categorized as securities.
The Ripple CEO further adds that exchanges could be forced to be regulated as brokers, and be compelled to register its token holders if the case goes in favor of the regulator.
The positive views of Ripple have boosted its token XRP which has gained more than 6% amid a general decline in the entire crypto industry.
XRPUSD is +6.71%.
