CNBC’s CEO Brad Garlinghouse said that Ripple, a fintech company, is making significant progress in its legal battle with the U.S. Securities and Exchange Commission.

Garlinghouse stated that he expected the case to be settled, and it centers around XRPThe world’s 7th-largest cryptocurrency will probably reach an end next year.

According to CNBC’s Dan Murphy, “We are seeing quite good progress in spite of a slow-moving process judiciary.”

The judge is asking good questions. The judge seems to realize that this goes beyond Ripple and has wider implications.

Garlinghouse expressed hope that there will be closure next year.

Ripple is an online cryptocurrency that has its headquarters in San Francisco. It generated lots of attention during cryptomania of 2018 and late 2017. bitcoin, etherOther cryptocurrencies have soared to new heights.

Ripple token, XRP, was effected by that rally. It reached an all time high above $3. Although the price has fallen sharply from this point, it’s still riding the most recent crypto wave which boasted a 370% year-to date gain.

Ripple’s technology lets banks and financial service firms transfer money over borders more quickly and for a cheaper price. Another product offered by Ripple is On-Demand Liquety, which utilizes XRP as a cross-border payment method.

Ripple’s ties and connections to XRP have been raised by the SEC. allegingIn an unregistered security offering, the executives of the company sold the tokens for $1.3B. Ripple argues that XRP is not a security and that it should be subject to more regulatory scrutiny.

This comes at a time when regulators all over the globe are looking closely at cryptocurrency, which is still unregulated and has seen a boom in the past year.

Garlinghouse noted that Japan, Singapore, Switzerland, Japan and Singapore are all examples of nations showing leadership in regulation crypto. India and China have taken steps to crack down.

Garlinghouse stated that “generally, the direction to travel is very favorable.”

Brady Dougan was the ex-CEO of Credit Suisse. He said that regulation in crypto is an area that will likely develop.

Dougan who runs Exos fintech company, said that “it’s an early market in its development.” “I believe it’s a healthy marketplace and that it will continue to grow in a positive manner.”

Ripple was a private company. last valued at $10 billionAnd counts the likes Alphabet’sVenture Capital arm GV, Andreessen Horowitz & Japan’s SBI HoldingsInvestors