{"id":177560,"date":"2023-10-20T03:50:53","date_gmt":"2023-10-19T22:20:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=177560"},"modified":"2023-10-20T03:50:53","modified_gmt":"2023-10-19T22:20:53","slug":"sec-drops-charges-against-ripple-executives-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sec-drops-charges-against-ripple-executives-crypto-news\/","title":{"rendered":"SEC drops charges against Ripple executives – Crypto News"},"content":{"rendered":"

The U.S. Securities and Exchange Commission (SEC) agreed to drop charges against two top Ripple<\/a> executives, according to an Oct. 19<\/a> press release.<\/p>\n

The SEC previously charged Ripple CEO Brad Garlinghouse<\/a> and co-founder and executive chair Chris Larsen<\/a> with aiding and abetting Ripple\u2019s institutional sales of XRP.<\/p>\n

Garlinghouse said in a statement:<\/p>\n

\n

\u201cFor nearly three years, Chris and I have been the subject of baseless allegations from a rogue regulator\u2026 instead of looking for the criminals stealing customer funds on offshore exchanges, the SEC went after the good guys \u2013 along with our entire company of innovators and entrepreneurs.\u201d<\/p>\n<\/blockquote>\n

Larsen, meanwhile, called the case an \u201cabuse by the administrative state\u201d and an \u201cattempt to ruin us personally\u201d while also destroying the company itself.<\/p>\n

The SEC did not comment publicly but expressed its decision in an Oct. 19 court filing. In one document, the SEC wrote that its claims are now \u201cdismissed in their entirety, without prejudice and without costs or fees to either party.\u201d<\/p>\n

In another document, the agency said that its stipulated and voluntary dismissal removes the need for a trial that would otherwise have taken place in April.<\/p>\n

Ripple case ongoing<\/h2>\n

The dismissal does not fully conclude the SEC\u2019s case against Ripple, which concerns the actions of Ripple as a corporation \u2014 not just the actions of its individual members.<\/p>\n

Ripple obtained partial victory around July 13<\/a> when a judge ruled that the firm\u2019s programmatic sales of XRP and certain other distributions did not violate securities laws. Ripple itself affirmed this victory on July 19<\/a> and explained that on-exchange sales of XRP, sales of XRP by executives, and transactions involving XRP are not securities.<\/p>\n

Starting in August, the SEC made an attempt to appeal against Ripple\u2019s initial win concerning its programmatic sales of XRP.\u00a0 However, in October, the judge ultimately rejected the SEC\u2019s appeal request on Oct. 3<\/a>, drawing that part of the case to a close.<\/p>\n

The judge\u2019s original ruling nevertheless ruled that Ripple\u2019s sales to institutional investors constituted securities. Ripple and the SEC must still determine the appropriate remedies for violations related to those institutional sales, according to the latest filing.<\/p>\n

The post SEC drops charges against Ripple executives<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Securities and Exchange Commission (SEC) agreed to drop charges against two top Ripple executives, according to an Oct. 19 press release. The SEC previously charged Ripple CEO Brad Garlinghouse and co-founder and executive chair Chris Larsen with aiding and abetting Ripple\u2019s institutional sales of XRP. Garlinghouse said in a statement: \u201cFor nearly three […]<\/p>\n","protected":false},"author":2,"featured_media":135123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-177560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=177560"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177560\/revisions"}],"predecessor-version":[{"id":177561,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177560\/revisions\/177561"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/135123"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=177560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=177560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=177560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}