This end. It is the end of a judicial soap opera which will have lasted more than three years. According to information from Bloomberg, Securities and Exchange Commission (SEC) of the United States would have decided to withdraw his call In the case which opposes Ripple Labs concerning the classification of the XRP as an unregistered financial title. This decision marks a major victory for Ripple and could have significant implications for the entire crypto industry.
The key points of this article:The SEC withdrawn its call against Ripple Labs, marking a historic victory for the company.
The decision could have significant implications for the crypto industry, acting as a precedent for similar cases.
A long -term legal battle
The SEC had initially prosecuted Ripple In December 2020, saying that the company had raised $ 1.3 billion via an offer of unregistered titles by selling its native token, the XRP. Ripple has always denied these accusations, arguing that the XRP should not be considered a financial title. In July 2023, a federal judge then ruled in favor of Rippleconcluding that XRP sales on exchange platforms did not constitute an offer of titles. However, the SEC appealed this decision, thus extending the legal battle.
Brad Garlinghouse, the CEO of Ripple, is delighted with the abandonment of the news – Source: account x
Rélaboration for Ripple and Crypto industry
The decision of SEC to remove your appel is a victory for Ripple, who spent millions of dollars in legal costs to defend himself against the accusations of the agency. The CEO of Ripple, Brad Garlinghousesaid that the DEC decision was «A step in the right direction» For crypto industry:
“We are happy that the SEC has finally recognized that XRP is not a title. This creates an important precedent for industry and we hope that this will encourage other companies to continue to innovate in the United States. »»
Obviously, this decision could also have repercussions on other similar cases involving the SEC and Cryptos companies. The decision of American regulation to withdraw its call in the Ripple case is a victory for the company and a relief for the entire crypto industry. While the regulation of cryptocurrencies continues to evolve in the United States, this case could serve as a precedent For other disputes similar in the future.