Ripple CEO on SEC case: ‘We’re closing this chapter once and for all’
Blockchain firm Ripple is moving to formally conclude its long-running legal battle with the Securities Exchange Commission (SEC) following a series of recent setbacks. CEO Brad Garlinghouse confirmed that Ripple is dropping its cross-appeal, with the SEC expected to do the same, effectively bringing the case to a close, he said in an X post on June 28. “Ripple is dropping our cross appeal, and the SEC is expected to drop their appeal, as they’ve previously said. We’re closing this chapter once and for all, and focusing on what’s most important – building the Internet of Value. Lock in,” he said. This move comes just days after U.S. District Judge Analisa Torres rejected a joint motion from Ripple and the SEC that sought an indicative ruling to reduce a $125 million civil penalty. The motion also aimed to overturn a prior finding that Ripple’s institutional XRP sales constituted unregistered securities offerings. XRP non-security status unchanged...