{"id":34307,"date":"2024-07-16T09:25:09","date_gmt":"2024-07-16T09:25:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-celebrates-legal-victory-against-sec\/"},"modified":"2024-07-16T09:25:09","modified_gmt":"2024-07-16T09:25:09","slug":"ripple-celebrates-legal-victory-against-sec","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-celebrates-legal-victory-against-sec\/","title":{"rendered":"Ripple Celebrates Legal Victory Against SEC"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Ripple\u2019s CEO, Brad Garlinghouse, and Chief Legal Officer, Stuart Alderoty, recently marked the anniversary of a significant court ruling in their favor. On July 13, 2023, District Judge Analisa Torres delivered a landmark judgment regarding XRP in the case<\/a> brought by the U.S. Securities and Exchange Commission (SEC).<\/p>\n

Brad Garlinghouse took to social media platform X to share his thoughts on this milestone. \u201cJuly 13, 2023 \u2014 that day was a very good day \u2014 for Ripple and the entire industry,\u201d he expressed. Garlinghouse emphasized their determination to stand up to the SEC, stating: \u201cWe had the conviction to fight the bully that has harassed and executed an unlawful war on our industry. As I said when it started, I knew we were on the right side of the law and that we would be on the right side of history.\u201d<\/em><\/p>\n

Garlinghouse criticized the SEC and its Chair, Gary Gensler, for their aggressive stance against the crypto industry. He condemned their efforts to stifle innovation with \u201cfailed lawsuits, false rhetoric, slander, and intimidation,\u201d asserting, \u201cThey were wrong then. And they are wrong now.\u201d<\/p>\n

Legal Insights and Future Implications<\/strong><\/h2>\n

Stuart Alderoty, Ripple\u2019s Chief Legal Officer, provided insights into Judge Torres\u2019 ruling. He highlighted the significance of the verdict: \u201cFirst and foremost \u2013 it was a watershed moment to find as a matter of law, a token \u2013 in this case, XRP \u2013 in and of itself, is not a security.\u201d<\/em><\/p>\n

Alderoty noted that this ruling has influenced other cases and underscored the SEC\u2019s overreach. He argued that \u201cthe courts have provided a much-needed check on the SEC\u2019s behavior, but clarity on a token-by-token basis, through interminable litigation, is unacceptable.\u201d<\/em><\/p>\n

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Alderoty also pointed out the frustration among U.S. policymakers over the lack of legislative progress on crypto, as the country lags behind globally. Although the SEC v. Ripple case isn\u2019t fully resolved, Alderoty emphasized that \u201cthe court\u2019s ruling that XRP is not a security will not change.\u201d<\/em> He mentioned that \u201ceven the SEC told the court it will not challenge that conclusion.\u201d<\/em><\/p>\n

He urged the industry to stay focused despite the SEC\u2019s ongoing litigation efforts, warning that \u201cthe runway is running out for the SEC.\u201d Concluding on an optimistic note, Alderoty stated, \u201cRipple and the entire industry has and will emerge stronger, long after Chair Gensler is gone.\u201d<\/em><\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) Ripple\u2019s CEO, Brad Garlinghouse, and Chief Legal Officer, Stuart Alderoty, recently marked the anniversary of a significant court ruling in their favor. On July 13, 2023, District Judge Analisa Torres delivered a landmark judgment regarding XRP in the case brought by the U.S. Securities and Exchange […]<\/p>\n","protected":false},"author":34,"featured_media":34308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34307"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=34307"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/34307\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/34308"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=34307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=34307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=34307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}