The US Securities and Exchange Commission (SEC) makes its lawsuit officially fall against Ripple Labs, according to CEO Brad Garlinghouse.
In a new video update on the social media platform X, Brad Garlinghouse says that the regulatory agency drops its appeal in its court case against the company, which originally filed in December 2020 due to alleged non -registered effects.
“I am finally able to announce that this case has ended – it is over. Today sitting and thinking in four years ago, it seems very clear to me that this case was doomed from the start. In so many ways it was the first big shot in the war on Crypto.
I really felt that I knew then that not only Ripple was on the right side of the law, but I felt that we would also be proven on the right side of history …
Ripple is the first company with the resources, determination and grit to fight back against the over -range of the agency, and today this trip ultimately concludes. Today is a victory – a long -awaited surrender by the SEC. “
According to Garlinghouse, the SEC used the guise to protect investors as a means to suppress the digital assets industry. He also says that other government agencies have helped the second to hinder the industry by deflecting crypto companies.
“A regulatory whose primary goal is to protect investors, went all-in a non-frauded, victimless lawsuit and has wiped $ 15 billion in value from innocent XRP holders. The SEC was the market manipulator.”
In 2023, a judge ruled that Ripple’s automated, open-market sale of XRP did not count as a security offer and prevented the allegations of the SEC.
XRP has set 13% on the announcement of Garlinghouse, currently traded at $ 2.53
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