Ripple Executives Triumph Over SEC’s Charges
The post Ripple Executives Triumph Over SEC’s Charges appeared on BitcoinEthereumNews.com. In a turn of events that has captured the attention of the crypto world, Ripple’s top executives have been exonerated of all claims made by the U.S. Securities and Exchange Commission (SEC). This recent victory for Ripple’s CEO, Brad Garlinghouse, and Executive Chairman, Chris Larsen, indicates a shifting tide in the regulatory landscape. Ripple: A Timeline of Victories The SEC’s decision to dismiss charges with prejudice marks not just a win, but the third successive victory for Ripple’s executives. This recent exoneration follows the landmark July 2023 judgment which determined that XRP does not inherently qualify as a security. Subsequent to this, the SEC’s bid for an interlocutory appeal in October was turned down. Today was an even better day. Ripple: 3 SEC: 0 In all seriousness, Chris and I (in a case involving no claims of fraud or misrepresentations) were targeted by the SEC in a ruthless attempt to personally ruin us and the company so many have worked hard to build for over a… https://t.co/YsQxewFnj9 — Brad Garlinghouse (@bgarlinghouse) October 19, 2023 Garlinghouse reflected on the ordeal, stating, “Chris and I endured unfounded allegations for almost three years. Instead of addressing genuine concerns, the SEC targeted us – champions of a regulated, U.S.-based business. It’s time to move past these baseless claims.” Ripple vs SEC: The Backstory It was late December 2020, just before the festive season, when the SEC chose to launch a civil action against Ripple and its key executives. The crux of their argument was that, since 2013, XRP distributions should have been classified and registered as a security. Notably, there were zero claims related to fraudulent activities or misinformation. The subsequent judgment in July 2023 swung in Ripple’s favor, declaring XRP as non-security. In a final act of retreat, the SEC has now withdrawn…
The post Ripple Executives Triumph Over SEC’s Charges appeared on BitcoinEthereumNews.com.
In a turn of events that has captured the attention of the crypto world, Ripple’s top executives have been exonerated of all claims made by the U.S. Securities and Exchange Commission (SEC). This recent victory for Ripple’s CEO, Brad Garlinghouse, and Executive Chairman, Chris Larsen, indicates a shifting tide in the regulatory landscape. Ripple: A Timeline of Victories The SEC’s decision to dismiss charges with prejudice marks not just a win, but the third successive victory for Ripple’s executives. This recent exoneration follows the landmark July 2023 judgment which determined that XRP does not inherently qualify as a security. Subsequent to this, the SEC’s bid for an interlocutory appeal in October was turned down. Today was an even better day. Ripple: 3 SEC: 0 In all seriousness, Chris and I (in a case involving no claims of fraud or misrepresentations) were targeted by the SEC in a ruthless attempt to personally ruin us and the company so many have worked hard to build for over a… https://t.co/YsQxewFnj9 — Brad Garlinghouse (@bgarlinghouse) October 19, 2023 Garlinghouse reflected on the ordeal, stating, “Chris and I endured unfounded allegations for almost three years. Instead of addressing genuine concerns, the SEC targeted us – champions of a regulated, U.S.-based business. It’s time to move past these baseless claims.” Ripple vs SEC: The Backstory It was late December 2020, just before the festive season, when the SEC chose to launch a civil action against Ripple and its key executives. The crux of their argument was that, since 2013, XRP distributions should have been classified and registered as a security. Notably, there were zero claims related to fraudulent activities or misinformation. The subsequent judgment in July 2023 swung in Ripple’s favor, declaring XRP as non-security. In a final act of retreat, the SEC has now withdrawn…
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