SEC will drop its appeal against Ripple, CEO Garlinghouse says 🎉
The United States Securities and Exchange Commission (SEC) is concluding its long-standing enforcement action against Ripple, marking a significant turning point for the company and the broader crypto industry. Announced by Ripple CEO Brad Garlinghouse, the decision to drop the SEC's appeal is celebrated as a major victory for Ripple and the cryptocurrency community at large.
The legal tussle, which initial began in December 2020 over allegations of a $1.3 billion unregistered securities offering, has finally reached its conclusion four years later. Garlinghouse declared that this marks the end of a chapter in crypto history and a fresh opportunity to elevate the United States as a global leader in the crypto sphere.
The Ripple CEO expressed his pleasure in announcing the case's closure via a video message, signaling a new era for the company and the potential growth of cryptocurrency innovations within the US.
This development triggered a positive reaction in the crypto markets, with data indicating a price jump in XRP following the news.
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