SEC Dismisses Allegations Against Ripple Executives

2023-10-20 02:24

The United States Securities and Exchange Commission (SEC) has moved to dismiss its high-profile lawsuit against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.

The request comes on the heels of a US judge’s denial of the SEC’s appeal from a July ruling favoring Ripple.

SEC Drops Lawsuit Against Ripple Executives

The legal maneuver began in 2020 when the SEC accused Ripple of gathering over $1.3 billion through an unauthorized digital asset securities offering. However, a landmark ruling in July declared that sales of Ripple’s XRP to the general public were not a security.

This latest development by the SEC to seek a dismissal signifies a major departure from its initial stance. Ripple’s Chief Legal Officer, Stuart Alderoty, said the agency’s move to drop the lawsuit was not a settlement but a “surrender.” This has resonated well with the industry as it may potentially impact the broader regulatory framework surrounding cryptocurrencies.

Ripple CEO Brad Garlinghouse emphasized being “targeted by the SEC in a ruthless attempt to personally ruin [him] and the company so many have worked hard to build for over a decade.” Still, he celebrated “another win” and condemned the SEC for “repeatedly [keeping] its eye off the ball while secretly meeting with the likes of Sam Bankman-Fried.”

The effects of this legal shift were felt in the crypto market. XRP’s price experienced a noticeable uptick of over 6%. Although it slightly retreated from its highs, the positive market response underscores the significant implications of this legal turnaround.

Read more: Why a $1,896 Target for Ripple’s XRP Is an Outrageous Lie

XRP Price Performance. Source: TradingView

Following the dismissal of the lawsuit against Ripple CEO Brad Garlinghouse and Chris Larsen, the SEC and Ripple will engage in further discussions. The goal is to outline a potential briefing schedule on suitable remedies against Ripple. This move towards a resolution is a win for Ripple and sets a precedent for crypto regulation in the US.

The post SEC Dismisses Allegations Against Ripple Executives appeared first on BeInCrypto.

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ripple sec executives against legal regulatory broader

Источник: beincrypto.com

ripple sec → Результатов: 126


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Ripple files cross-appeal challenging SEC’s XRP institutional sales ruling

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2024-10-26 15:27


Глава Ripple о новой апелляции SEC: «Будем бороться столько, сколько потребуется»

Комиссия по ценным бумагам и биржам США (SEC) подала апелляцию на решение суда по делу против Ripple, что вызвало резкую реакцию руководства компании. Глава Ripple Брэд Гарлингхаус (Brad Garlinghouse) заявил о готовности продолжать борьбу в суде.

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Why Ripple May Never Deliver Substantial Profit Despite a Win Against SEC: XRP Bulls Eye This 30% Short-Term Move

The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has been a long and arduous one, with both sides presenting their arguments in court. As the case nears its conclusion, many in the XRP community are speculating about the potential impact a favorable ruling for Ripple could have on the price […] The post Why Ripple May Never Deliver Substantial Profit Despite a Win Against SEC: XRP Bulls Eye This 30% Short-Term Move appeared first on CaptainAltcoin.

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Фото:

Ripple CEO criticizes SEC for stifling crypto innovation with aggressive enforcement

Ripple CEO Brad Garlinghouse said the U.S. SEC’s actions toward the crypto industry have failed in protecting investors and needs to reassess its regulatory strategy. Speaking to CNBC’s Dan Murphy at the Ripple Swell conference in Dubai, Garlinghouse expressed concern about the SEC’s focus and questioned: “Who are they protecting in this journey?” The CEO […] The post Ripple CEO criticizes SEC for stifling crypto innovation with aggressive enforcement appeared first on CryptoSlate.

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