The US Securities and Exchange Commission (SEC) announced that it has dropped the charges against the founder and CEO of Ripple (XRP).
SEC took another step back in the Ripple case. by the regulatory body 19 October In a file submitted to the court on Friday, Ripple founder Brad Garlinghouse And CEO Chris Larsen about fraud, help And abetment It was seen that all such claims were withdrawn.
SEC sues executive duo for violating federal securities laws Aiding and abetting the Ripple company He claimed that he did this and included it in the case about 3 years ago. With this step back, the founder and CEO were completely exonerated. Additionally next year April planned to be held about the duo in hearing also canceled has been done. The case is only Specific to Ripple company and its activities will progress.
Judge analisa torrespast of July The decision he made regarding the Ripple case in 2018 was interpreted positively. Torres stated that the sale of XRP to individuals does not violate the law, but the XRP service provided to corporates is a crime under securities laws.
Ripple 3 – 0 SEC
About subject in the statement Ripple co-founder Brad Garlinghouse has been accused of these accusations, which have been going on for three years, from the very beginning. it is unfounded While stating that the Ripple front against the SEC his third victory He celebrated with joy:
Ripple:3 – 0 SEC. For nearly three years Chris and I have been subjected to false claims from a rogue regulator with a political agenda. Instead of looking for criminals who stole customer funds offshore, the SEC went after the good guys, not exchanges seeking political favors. The SEC constantly kept its eye on the ball while secretly meeting with organizations like the SBF; It has repeatedly failed to protect U.S. consumers and businesses. How many millions of taxpayer dollars were wasted? It feels good to finally be right.
Rise in XRP price
This partial victory of Ripple against the SEC is as good as last time. in price moment One rise triggered. XRP in a short time more than 8% rising 13 July It was the best performance it has performed in a single day since its history. On July 13, with the announcement that its sale to individuals was not a crime under the law, XRP was traded in a single day. more than 70% had risen.
According to CoinGecko data, in a short time due to the news flow 8.3% rising XRP, $0.488 from level to $0.528 reached. XRP, at the time of writing from $0.51 finds buyers.