In a shocking turn of events, the United States Securities and Exchange Commission (SEC) has voluntarily dismissed charges against Ripple's CEO Brad Garlinghouse and Executive Chairman Chris Larsen. Here's what you need to know:
Garlinghouse and Larsen, alongside #ripple , were accused of violating securities laws with the #xrp token.
Ripple dubbed this decision as a "amazing capitulation," and their Chief Legal Officer called it a "surrender by the SEC."
💰 Market Impact
The XRP token's price surged by about 5% after the news broke to 7% actually. This comes after a federal judge in july ruled that XRP isn't necessarily a security, a significant win for Ripple.
It remains unclear why the SEC dropped charges against Garlinghouse and Larsen. However, the SEC continues its case against Ripple, which is pivotal for crypto regulation in the U.S.
🚀 Ripple's Legal Journey
Ripple's legal victories are encouraging, but the crypto industry is not in the clear.
The SEC still views XRP sales to institutional investors as illegally unregistered securities offerings.
The SEC is actively involved in lawsuits against other crypto giants.
Ripple's fight against the SEC is far from over, and the #crypto industry watches closely.
Stay tuned for more updates! 🚀💼📈
LIKE, SHARE, COMMENT and let's make some noise about this landmark decision! Together, we can make a difference. 💎🔁