Defending against SEC to cost Ripple $200M, CEO Brad Garlinghouse says

He went on to share that by the time the case is chosen, Ripple will have invested $200 million protecting itself against a claim which, from its very starting, does not make a lot of sense.In a message to SEC chair Gary Gensler, Garlinghouse expressed remorse about the U.S. falling behind significantly as Ripple expands to the United Arab Emirates. Ripple has long disputed the claim, arguing that it does not make up a financial investment contract under the Howey test.The case has been going on for two and a half years and has produced headwinds in the U.S. market. A decision is anticipated from the judge sometime in the next three to six months, according to Garlinghouse.Magazine: Crypto guideline: Does SEC Chair Gary Gensler have the last say?

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