In a recent interview, Ripple's CEO, Brad Garlinghouse, announced that the company's long-standing legal dispute with the SEC is nearing its end. He revealed that Ripple and the SEC are expected to reach a settlement next week following a private meeting.

For years, Ripple and the SEC have been at odds over whether XRP, the digital asset associated with Ripple, should be classified as a security. Garlinghouse has consistently argued that XRP is not a security, a position recently upheld by a judge's ruling. He stated, "This should have never been a partisan issue. We are seeking regulation and clarity."

Garlinghouse has been vocal in criticizing President Joe Biden's approach to cryptocurrency regulation. Reflecting on the lack of progress, he remarked, "Five years ago, I pointed out the absence of clear rules. Now, after an extended legal battle with the SEC, there is still no clarity." He also commented on SEC Chairman Gary Gensler's stance, saying, "Gensler views everything as a digital security. Despite judges ruling against him multiple times, he continues to push this narrative."

Regarding his interactions with the Biden administration, Garlinghouse mentioned a recent crypto roundtable in Washington, D.C., which included participants from both political parties. "It was encouraging to see them engaging with the industry," he noted. While Democrats have been slower to embrace crypto compared to Republicans, he saw the discussion as a positive step. He also marked the one-year anniversary of the ruling that declared XRP is not a security, describing it as a significant moment for the industry.

Garlinghouse also emphasized the progress of international crypto regulations, noting that many countries have established frameworks for crypto oversight. "It's frustrating that the U.S. is lagging behind while other countries are moving forward," he said. He disclosed that Ripple has spent over $150 million and three years in legal battles, expressing disappointment that the U.S. remains entangled in litigation while other nations advance.