SEC drops case against XRP, CEO claims 

Ripple CEO Brad Garlinghouse announced that the American Securities and Exchange committee abandoned its appeal during the long legal battle compared to XRP.

The case, which started in December 2020, accused Ripple of selling XRP (Xrp) as not registered security.

In a statement Posted on X, Garlinghouse called the trial an attempt failed by the SECOND To regulate the cryptographic industry by the application.

He described the case as “condemned from the start” and supervised it in the context of a wider government effort to “choose the winners” in cryptographic space.

He also noted that Ripple legal battle Define a precedent, paving the way for clearer regulatory directives.

Ripple had previously won a partial victory when an American judge ruled that XRP was not a guarantee in the sales of the secondary market. However, the court also concluded that sales to institutional investors violated securities laws.

Although the SEC initially pointed out her intention to appeal, she has now decided to completely delete the case, said Garlinghouse.

The dry has not officially confirmed this news.

Dry prejudicial investors

Homosexual critical The approach of the dry under President Gary Gensler, arguing that the regulator had injured investors rather than protecting them.

He underlined the market value of $ 15 billion which was destroyed when the SEC tabled the trial for the first time, qualifying the regulator as “market manipulator”.

The case was closely considered as a key legal battle for the cryptography industry. Ripple’s victory could influence the way regulators tackle digital assets in the future. Garlinghouse spoke to the greatest world of cryptography in general, saying that this result is a step towards the United States a more favorable environment for cryptographic innovation.

XRP has increased on news and is currently negotiated at $ 2.55.