The post SEC ‘Surrenders’ to Ripple and XRP: Details appeared on BitcoinEthereumNews.com.

The SEC has dropped its charges against Ripple executives Brad Garlinghouse and Chris Larsen as the price of XRP records huge gains. The United States Securities and Exchange Commission (SEC) has dropped its charges against executives from Ripple Labs – Chris Larsen (chairman and co-founder) and Brad Garlinghouse (CEO). “Plaintiff, SEC, respectfully notified the court of the stipulated dismissal of the SEC’s pending claims against defendants Christian Larsen and Bradley Garlinghouse,” a recent court briefing read. Notably, the court made this known in a briefing by pro-XRP lawyer James K. Filan yesterday. #XRPCommunity #SECGov v. #Ripple #XRP BREAKING: CASE DISMISSED AGAINST BRAD GARLINGHOUSE AND CHRIS LARSEN pic.twitter.com/BYTe9152jM — James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 19, 2023 – Advertisement – Ripple CLO Says the SEC Has Surrendered Expectedly, the development stirred reactions from XRP community members, with Ripple CLO Stuart Alderoty commenting on the SEC’s decision to dismiss the case against Larsen and Garlinghouse. Commenting, Alderoty asserted that the SEC made a mistake going after the company’s execs, which has led to its capitulation. Interestingly, the Ripple Chief Legal Officer referred to the move as a surrender by the SEC and not a settlement. “This is not a Settlement. This is a Surrender by the SEC.” The SEC made a serious mistake going after Brad & Chris personally – and now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC. https://t.co/TOsG64ZdEx — Stuart Alderoty (@s_alderoty) October 19, 2023 Besides Alderoty, other XRP faithful also reacted to the news. A commentator suggested that the regulator dropped the charges because it did not want to lose for the third time in a row. Recall that on July 13, the court ruled that most XRP transactions the SEC alleges to be securities are not. The court also denied…

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Filed under: News - @ October 20, 2023 9:26 am