Ripple names a new president as the XRP lawsuit’s resolution approaches

After months of litigation with the U.S.SEC, the payments system Ripple Labs has confirmed the appointment of a new president.

Ripple has announced in a recent blog post that Monica Long, the company’s current senior vice president and general manager, would be appointed to the president.

According to Brad Garlinghouse, CEO of Ripple, “Monica has been instrumental in steering Ripple to a prosperous growth and financial position, despite the present difficult crypto market. she is excited to work even more closely with her as she begins her presidency since she’s been such a valuable advisor to me over the years.”

By 2020, she was already elevated to general manager, and now she’s ready to take on the role of president.

“I have spent more than half of my working life in the crypto industry, and most notably at Ripple. I am humbled by this incredible honour and eager to get started in my new role as president.

In December 2020, the SEC filed suit against Ripple Labs, claiming that XRP was and still is an unregistered security.

When asked about the possibility of a settlement with the SEC earlier this month, Garlinghouse indicated it was “virtually zero,” but that the litigation may be resolved this year.

“Certainly, the judge will provide a ruling by 2023 at the latest. Yet, you can’t influence a judge’s decision-making process. I have faith that we will be able to put this chapter to rest over the next several months.”

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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