BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

How the SEC’s Lawsuit Against Ripple Crumbled

by BlockNews.com Team
October 28, 2023
in BREAKING NEWS, BUSINESS, CRYPTO
Reading Time: 3 mins read
A A
1
SHARES
23
VIEWS
Share on XShare in TelegramShare on Reddit
  • The SEC filed a lawsuit against Ripple Labs in 2020 alleging XRP was an unregistered security, but has now dropped all charges against Ripple executives in a major defeat.
  • Ripple won key legal victories proving XRP is not a security, undermining the SEC’s case and forcing them to retreat.
  • Ripple declares total vindication, but work remains to establish clear crypto regulations in the US going forward.

The SEC filed a lawsuit against Ripple Labs in 2020, alleging that XRP should have been registered as a security. This sent shockwaves through the crypto industry. However, a series of legal victories has now forced the SEC into a full retreat.

The Original Allegations

In December 2020, the SEC filed a lawsuit against Ripple Labs and two of its executives, CEO Brad Garlinghouse and Chairman Chris Larsen. The SEC claimed that Ripple’s distributions of XRP starting in 2013 should have been registered as securities offerings. The lawsuit did not allege any fraud, but rather that Ripple had violated registration requirements.

🚨 NEWS: The SEC has dismissed its case against Ripple CEO @bgarlinghouse and Co-founder @chrislarsensf.

There will be no trial as a result, reports Fox Business journalist @EleanorTerrett pic.twitter.com/A2j9kYmDPA

— BlockNews.com (@blocknewsdotcom) October 19, 2023

Major Legal Victories for Ripple

Ripple fought back hard against the SEC’s allegations. In July 2023, a judge ruled decisively that XRP is not a security. This was a huge blow to the foundation of the SEC’s case. The SEC tried to appeal this ruling but failed.

With the SEC’s case falling apart, a trial was scheduled for next year against Garlinghouse and Larsen personally. However, today the SEC moved to dismiss all remaining charges against these executives. The stunning surrender ends the SEC’s legal crusade against Ripple.

Ripple Declares Total Vindication

In a statement, Ripple CEO Brad Garlinghouse said: “For nearly three years Chris and I have been the subject of baseless allegations from a rogue regulator with a political agenda…Today we are legally vindicated and personally redeemed in our battle against a troubling attempt to abuse the rules in order to advance a political agenda to suffocate crypto in America.”

Chairman Chris Larsen added: “It is a travesty that we were forced to defend ourselves from an ill-advised attack that was flawed from the day it was filed.”

The Future of Crypto Regulation

While Ripple has won a major victory, work remains to be done on establishing clear crypto regulations in the US. Ripple says it will continue to engage with policymakers to advocate for responsible innovation. However, the dismissal of charges against its executives removes a dark cloud that has hung over the company for years.

Tags: Brad garlinghouseChris LarsencryptoLawsuitsecxrp
TweetShareShare
Previous Post

US Designates Foreign Crypto Mixers as Money Laundering Hubs

Next Post

Leading AI Expert at Meta Assures: AI Poses No Threat to Humanity

DON'T MISS THESE! HOT OFF THE PRESS

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?
CRYPTO

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak
CRYPTO

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party
CRYPTO

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
Load More

Related News

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.