the SEC surrenders, and the XRP crypto rises
The post the SEC surrenders, and the XRP crypto rises appeared on BitcoinEthereumNews.com. The SEC has decided to drop its lawsuit against executives of Ripple and related crypto XRP. SEC vs Ripple lawsuit dropped!!! Major win for the $XRP Army! In a landmark SEC surrender, Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen are cleared of all baseless allegations. pic.twitter.com/Y5wU3akdMb — Altcoin Daily (@AltcoinDailyio) October 19, 2023 The price of crypto XRP rose 7%. SEC: surrender against Ripple and crypto XRP Ripple’s Chief Legal Officer Stuart Alderoty said that this is not a settlement, but an outright surrender by the SEC. The SEC made a serious mistake going after Brad & Chris personally – and now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC. https://t.co/TOsG64ZdEx — Stuart Alderoty (@s_alderoty) October 19, 2023 However, a due and important clarification must be made. The matter in fact is not entirely closed. The SEC’s complaint against Ripple actually concerned three separate, though closely related, entities. The first was the cryptocurrency XRP, which in July was completely cleared of having to be considered a security. The second was the company Ripple, whose lawsuit has not yet reached a conclusion. The third was precisely Ripple’s executives, namely current CEO Brad Garlinghouse and former CEO Chris Larsen. So the SEC lost against both XRP and Ripple executives, but not yet against the Ripple company. In the former case the defeat was decreed by a judge, while in the latter case it was the SEC that raised the white flag. The charges against Ripple executives In the specific case of Ripple executives, they were accused of having responsibilities specifically in selling XRP as an unregistered security. Indeed, it should be pointed out that the judge who ruled that XRP cannot be considered a security was referring only…
The post the SEC surrenders, and the XRP crypto rises appeared on BitcoinEthereumNews.com.
The SEC has decided to drop its lawsuit against executives of Ripple and related crypto XRP. SEC vs Ripple lawsuit dropped!!! Major win for the $XRP Army! In a landmark SEC surrender, Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen are cleared of all baseless allegations. pic.twitter.com/Y5wU3akdMb — Altcoin Daily (@AltcoinDailyio) October 19, 2023 The price of crypto XRP rose 7%. SEC: surrender against Ripple and crypto XRP Ripple’s Chief Legal Officer Stuart Alderoty said that this is not a settlement, but an outright surrender by the SEC. The SEC made a serious mistake going after Brad & Chris personally – and now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC. https://t.co/TOsG64ZdEx — Stuart Alderoty (@s_alderoty) October 19, 2023 However, a due and important clarification must be made. The matter in fact is not entirely closed. The SEC’s complaint against Ripple actually concerned three separate, though closely related, entities. The first was the cryptocurrency XRP, which in July was completely cleared of having to be considered a security. The second was the company Ripple, whose lawsuit has not yet reached a conclusion. The third was precisely Ripple’s executives, namely current CEO Brad Garlinghouse and former CEO Chris Larsen. So the SEC lost against both XRP and Ripple executives, but not yet against the Ripple company. In the former case the defeat was decreed by a judge, while in the latter case it was the SEC that raised the white flag. The charges against Ripple executives In the specific case of Ripple executives, they were accused of having responsibilities specifically in selling XRP as an unregistered security. Indeed, it should be pointed out that the judge who ruled that XRP cannot be considered a security was referring only…
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