Ripple CEO Brad Garlinghouse Recently Spoke About the End of XRP's Legal Fight

Ripple CEO Brad Garlinghouse recently spoke about the end of XRP's legal fight as the new SEC Chair has officially been appointed

Recently appointed SEC Chair handles the last stages of the crypto behemoth, Ripple’s case.

After a long-winded case, the crypto industry is getting closer to seeing the end of Ripple’s legal fight as the new SEC Chair has officially been appointed, in an interview with Fox Business, Brad Garlinghouse, CEO of Ripple Labs, spoke about the recent shift in the U.S. government’s stance on crypto and also highlighted a crucial area that still needs more clarification.

What Happened: According to Garlinghouse, the Zoom interview began with host Liz Claman discussing Ripple’s recent acquisition of Hidden Road for $2 billion, which is considered to be one of the largest acquisitions in the history of crypto.

Also, a year ago, this acquisition would not have made sense due to the regulator’s hostility towards crypto, but as the situation has changed, Ripple is now moving past the SEC’s ‘war’ as it enters the next phase of the market.

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After setting aside $125 million for a potential SEC penalty, which was a suggestion by the agency in December, and making several attempts to resolve the case, the agency has finally agreed to drop the appeal and lift the permanent injunction.

Also, the SEC and the U.S. will still be receiving $50 million each, and Ripple is currently in talks to make those payments in XRP instead of U.S. dollars. This has sparked massive speculation in the community whether XRP could be added to the U.S. Digital Assets Stockpile.

Will U.S. Hold XRP In Its Digital Asset Stockpile?

Under an initiative led by Trump, the U.S. government is building a crypto reserve that currently holds $16B in crypto assets like Bitcoin (BTC), Ether (ETH), Tether (USDT) and BNB, although there is no XRP yet. Notably, the government will only accept crypto assets from civil or criminal forfeitures.

If Ripple pays its fine in XRP, then it could finally get a spot in the government’s growing stash of digital assets.

The $50 million in SEC’s fine in XRP could amount to about 24.63 million coins at a current price of $2.03 each. However, the settlement still needs SEC approval with the commissioners set to vote in a closed-door meeting. It remains to be seen if the U.S. will accept the fine in XRP and its broader implications on the market.