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The United States Stock Exchange and Securities Commission (SEC) has officially withdrawn its case and appeal against RippleA cryptocurrency company, after almost four years of legal battles.
The CEO of Ripple, Brad Garlinghouse, shared the news in a March 19 publication in Xcalling it a “long backward surrender” of the sec.
The case, which began at the end of 2020, accused Ripple and two of his executives from Break the securities laws raising $ 1.4 billion through XRP
XRP
$ 2.48
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However, the company still received a fine of $ 125 million because it had sold tokens to institutional investors without following regulations.
Garlinghouse has expressed his opposition to the actions of the SEC, Call the case as “law” and criticize the regulator to attack the cryptographic industry without clear rules. He also pointed out the changes in government leadership, saying that they are adopting a more reasonable approach to the regulation of cryptocurrencies.
Speaking in him Digital Assets Summit on March 19Garlinghouse He acknowledged that the legal fight had been difficult, but said he always believed that Ripple was on the right side of the law. He also criticized the management of the case by the SEC, stating: “There were no victims, there were no loss of investors. They were simply not acting in good faith.”
On March 13, the Vermont Financial Regulation Department decided to withdraw its legal action against Coinbase. Because? Read the full story.
Having completed a master’s degree in economics, politics and cultures of the Oriental Asia region, Aaron has written scientific documents that analyze the differences between Western and collective capitalism forms in the era after World War II.
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