PARIS — Ripple CEO Brad Garlinghouse is confident the company will come out well as its lengthy court battle with the U.S. Securities and Exchange Commission nears a conclusion.

San Francisco’s start-up has filed a complaint against the SEC regarding allegations that Ripple Garlinghouse and Chris Larsen participated in illegal securities sales through sales. XRPThe company uses a crypto currency called ETH, and it is also closely linked to it.

Ripple has disputed these findings and argued that XRP should instead be treated like an investment contract, such as a stock.

Garlinghouse, a CNBC host and participant in a fireside chat hosted by CNBC at the Paris Blockchain Week Summit on Thursday said that “the lawsuit has gone exceedingly smoothly” and had fared better than I could hope when it began 15 months back. The wheels of justice don’t move fast, however.

CNBC reached the SEC for clarification but they were not available immediately.

A judge was appointed earlier this week. ruled Emails purporting that the SEC had conflicts of interests regarding the way the watchdog treated XRP, and other tokens cannot be edited by the SEC. ether.

Ripple is “already operating in the worst case scenario,” having  sold “zero” enterprise contracts to financial institutions in the U.S last year. He said, “We are experiencing record growth.” It’s not just in the United States.

Ripple, which was established in 2012, is described as a crypto-based solution to SWIFT (the global interbank messaging network that facilitates trillions of dollars worth of payments each day). It sells software to financial institutions and fintech firms.

Ripple makes cross-border payments using XRP (the sixth largest cryptocurrency market value). Ripple owns the majority of the 100 million XRP tokens currently in circulation. It periodically releases them from its escrow account, to maintain stable prices.

Garlinghouse stated that there is a lot at stake in the case against his company.

He stated that “this case is important not only for Ripple, but for all crypto industries in the United States.” It would be a negative thing for crypto in America.

Garlinghouse stated that if Ripple is unsuccessful, all tokens traded on U.S. platforms will be considered securities. This means platforms must register as brokers with the SEC. “That’s cost, that’s friction.”

He said, “If you consider XRP a security of Ripple then we must know each person who owns XRP.” It’s an SEC rule. All of your shareholders must be known. This is impossible.