According to Ripple management, the verdict in the XRP litigation will have little effect on worldwide company operations
Ripple management believes the XRP case ruling will not impact global operations.
According to reports from South Korean media outlets, Ripple’s APAC area policy director Rahul Advani claimed during a press conference on Wednesday that the company’s worldwide commercial development will be unaffected by the outcome of a lawsuit launched against it by the U.S. Securities and Exchange Commission (SEC).
According to Bloomingbit, Advani said that 90% of Ripple’s business is conducted outside the United States, including a substantial share in Asia-Pacific. According to Advani, it has seen the most growth during the two years that the firm has been embroiled in a legal fight with the SEC.
The SEC filed a complaint against Ripple in December 2020, stating that the $1.38 billion sale of XRP, the cryptocurrency token that underpins Ripple’s payment and remittance network, was an unlawful issuance of unregistered securities.
Ripple’s managing director for the Asia Pacific, Middle East, and North Africa, Brooks Entwistle, said at the same conference that the outcome of the SEC vs. Ripple litigation would significantly impact the future of the cryptocurrency business in the United States.
Advani said in a January interview with Forkast that he anticipates the court would provide a decision on the matter within the first half of this year.