Ripple executives say XRP lawsuit ruling will have little impact on global business operations

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Ripple’s APAC Region Policy Director Rahul Advani told a press conference 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 business expansion. According to local media reports, on Wednesday.

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Some facts

  • Advani said 90% of Ripple’s business is outside the US with a large portion the Asia-Pacific region, local media outlet Bloomingbit reported, Advani said the company saw its biggest growth during the years involved the legal battle with the SEC.

  • 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 the US will be heavily influenced by the decision in the SEC vs. Ripple lawsuit.

  • Advani said a Interview Together Forecast January he expects the judge to rule in the case in the first half of this year.

See related articles: MoneyGram Wants To Seal Parts Of Its Filings In XRP Lawsuit Between Ripple, SEC