SEC to Sue Ripple Over XRP Cryptocurrency — CEO Insists XRP Is Not a Security
The U.S. Securities and Exchange Commission (SEC) is set to bring a lawsuit against Ripple over the XRP cryptocurrency which it considers a security, according to Ripple CEO Brad Garlinghouse. Insisting that XRP is not a security, he calls the SEC’s lawsuit an attack on cryptocurrency that is out of step with the G20 countries and the rest of the U.S. government. SEC to Bring Lawsuit Against Ripple Over XRP, CEO Calls It an Attack on Crypto The SEC is reportedly set to file a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen, over the sale of the XRP....
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Ripple says it is overhauling how security is handled on the XRP Ledger, adding AI-assisted testing, a dedicated red team, stricter amendment review standards, and a broader push to modernize parts of the codebase. Notably, Ripple is explicitly tying XRPL’s next phase of security work to its ambitions in global payments, tokenized assets, and institutional […]
In December 2020, the US Securities and Exchange Commission filed a lawsuit against Ripple and its chief executives, Brad Garlinghouse and Chris Larsen. According to the SEC, Ripple traded $1.3 billion in their cryptocurrency XRP as a security without notifying the commission. Ripple and other parties have now rebutted the watchdog’s judgment with claims of […]
As the lawsuit with the U.S. Securities and Exchange Commission (SEC) continues, Ripple CEO Brad Garlinghouse insists that the Commission has provided no clarity in crypto regulation. He said the SEC is using its meetings with crypto companies as lead generation for enforcement actions, and the agency has lost sight of its mission to protect investors.
Ripple’s CEO Claims SEC Uses Meetings With Crypto Companies as Lead Generation for Enforcement Actions
Amid the SEC’s lawsuit over XRP, Ripple CEO Brad Garlinghouse reiterated his concerns over the lack of clarity in....
Ripple doesn’t stand a chance against the Securities and Exchange Commission in its ongoing court battle, this US congressman says. U.S. Representative Brad Sherman stated in a recent FOX Business interview that he believes the SEC would prevail in its legal fight against Ripple because XRP, the native cryptocurrency on the Ripple network, is a security. […]
Ripple Labs has officially responded to the complaint by the U.S. Securities and Exchange Commission (SEC). Besides explaining that the XRP cryptocurrency is not a security, Ripple accuses the securities regulator of being out of step, picking winners and losers, as well as distorting facts regarding the cryptocurrency. In the court document filed on Jan. 29, Ripple claims that XRP is not an “investment contract,” insisting that the crypto “is a virtual currency and thus, outside the SEC’s jurisdiction.” Furthermore, the company stated that it never held an....