Ripple’s APAC Region Policy Director Rahul Advani told a press conference in South Korea that payment processor Ripple Labs Inc. The court’s decision in the lawsuit brought by the US Securities and Exchange Commission (SEC) against the company will have minimal impact on the company’s global business expansion. According to local media reports, on Wednesday.
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Advani said 90% of Ripple’s business is outside the US with a large portion in the Asia-Pacific region, local media outlet Bloomingbit reported, Advani said the company saw its biggest growth during the two years involved in the legal battle with the SEC.
In December 2020, SEC filed a lawsuit Against Ripple, alleging the sale of US$1.38 billion of XRP, the crypto token that powers Ripple’s payment and remittance network, constituted an illegal offering of unregistered securities.
Brooks Entwistle, Ripple’s managing director for Asia Pacific, Middle East and North Africa, said at the same conference that the future of the cryptocurrency industry in the US will be heavily influenced by the decision in the SEC vs. Ripple lawsuit.
Advani said in a Interview Together Forecast In January he expects the judge to rule in the case in the first half of this year.
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