SEC will drop its appeal against Ripple, CEO Garlinghouse says
Source: Coin Tegraph
The United States Securities and Exchange Commission’s multi-year enforcement action against Ripple is finally coming to an end, according to the company CEO.
“This is it — the moment we’ve been waiting for. The SEC will drop its appeal — a resounding victory for Ripple, for crypto, every way you look at it,” Ripple CEO Brad Garlinghouse wrote on X on March 19.
Source: Brad Garlinghouse
“I’m finally able to announce that the case has ended; it’s over,” Garlinghouse said in the attached video to the X post.
The end of a long-running legal battle between Ripple and the SEC comes four years after the US securities regulator sued the company over an alleged $1.3 billion unregistered securities offering in December 2020.
“We’re now closing a chapter in crypto history,” Garlinghouse stated, adding that “it’s time to make the United States the crypto capital of the world.”
Data from Cointelegraph Markets Pro and TradingView show that the crypto market responded positively to the development.
XRP price shot up 10% following SEC’s backout. Source: TradingView
This is a developing story, and further information will be added as it becomes available.
