Ripple CEO declares "triumph" after SEC rejects appeal of XRP case

Ripple CEO declares "victory" as SEC rejects appeal of XRP lawsuit

Garlinghouse considers SEC lawsuit a war on #cryptocurrencies that cost #XRP holders $15 billion. Ripple's victory sets a legal precedent, and Garlinghouse thanks supporters for their support in fighting the SEC's overreach. Join Nick Chahin live on Wednesday, March 19, at 6 p. m. ET to learn how to capitalize on post-Fed volatility and manage risk in this rapidly changing market. Register for this free strategy session today. #Ripple CEO Brad Garlinghouse confirmed that the U. S. Securities and Exchange Commission (SEC) will not file further appeals in the long-running case against the company, marking the end of a four-year legal battle. What happened: "The case is over, Garlinghouse announced, calling the outcome a "victory" and characterizing the SEC's lawsuit as a failed attempt to strangle the crypto industry. Ripple is the first company that had the resources, determination and courage to fight back against the agency's overreach , he said. Garlinghouse accused the SEC of waging what he called a "war of legal terror. claiming that the agency's lawsuit has caused $15 billion in losses to XRP XRP/USD investors. The SEC wasn't looking for justice, it was looking to win the case at any cost. {n he added. Why it matters: A key element of the case was the judge's earlier ruling that XRP was not a security. Garlinghouse said the ruling laid the groundwork for policymakers to adopt a set of rules for cryptocurrencies under long-standing securities laws. Ripple's CEO also linked the conclusion of the case to the broader movement in the crypto space, saying, Today's news shows that the war on cryptocurrencies has ended in defeat for those who turned our own government against an entire industry.

A case that Garlinghouse called the first salvo in the war on cryptocurrencies. Read us at: Compass Investments #CryptoUpdates #CryptoNews