The U.S. Stock Exchange and the Securities Commission have officially dismissed the lawsuit against Ripple Labs Company, XRP Cryptocurrency Station, CEO of Brad Garlinghouse, the entity’s CEO.
In a video posted to his social network, Garlinghouse said the SEC, which is in line with the position currently written by President Donald Trump’s order, concluded the lawsuit after four years of lawsuit. “This case is over, it’s over.”.
After learning about the news, XRP prices Shooted 13.2% and estimated above $2.50at the end of this report. This rebound reflects the renewed trust of investors in the future of Ripple and its cryptocurrency after years of regulatory uncertainty.
Litigation that marks the cryptocurrency industry
The legal dispute between Ripple Labs and the SEC began in December 2020 when regulators filed a lawsuit XRP claims to be unregistered value And the company raised more than $1.3 billion in unauthorized initial offers.
Since then, Ripple has become a symbol of resistance to what many people in the cryptocurrency industry perceived as a regulatory “war” against cryptocurrencies.
In his statement, Garlinghouse reflects the origins of the incident. “Around four years ago, the US SEC filed a lawsuit against Ripple, and we can finally announce that this lawsuit has ended.
For CEOs, Ripple is not only on the right side of the law, It was also located on the right side of the story.
The lawsuit filed under SEC President Gary Gensler was criticized by Gerlinghouse as an overpowering attack on the industry as a whole.
“Under Gary Gensler’s presidency, the SEC attacked the entire industry with the same arguments they used against us. They wanted to protect investors, but they tried to intimidate and terrorize. Regulators eliminated $15 billion in the value of innocent holders of XRP,” he said.
According to the executive, the SEC manipulated the market and pursued victory at any cost, even in demand “free of victims and fraud.”
Legal victory with precedents sitting
Throughout the process, Ripple has achieved several important legal victories. One of the most significant things that occurred in July 2023 occurred when Judge Analisa Torres determined that the exchange’s XRP sales did not constitute an investment contract, investment contract. Establish that an asset is not a value in its context.
“We have since demonstrated that XRP digital assets are not value and that they are not law now,” Garlinghouse said. The ruling, reviewed by Cryptootics, marked the front and back of emerging US industries.
Furthermore, the CEO pointed out that The SEC was responsibly replied on multiple occasions during the lawsuitincluding abuse sanctions in the process of discovery of evidence.
“The judge replied with the SEC several times in this process. The SEC was approved for discovery abuse in our case. Employers were repeated in other cases of cryptocurrency,” he added.
A new chapter in US cryptocurrency.
The litigation will come at a time of political change in the United States. With the Donald Trump administration Promotes a positive attitude towards cryptocurrencyGarlinghouse sees historic opportunities:
“Fortunately, we have new leadership, and the government’s enforcement and legislative sectors are actively seeking reasonable and constructive solutions for cryptocurrency. It’s time to turn the US, the world’s capital, into a cryptocurrency capital.”
The effect of this resolution transcends ripple. According to Garlinghouse, a company’s legal victory shows how So, other industry officials resist regulatory pressures.
“It hurts that other people saw the value and used our legal manual to attack to fight back,” he said.
Many of these companies, including Uniswap, Coinbase, Robinhood, and others, have recently fought from the judicial battle against the SEC. After the body gives up on the complaintsas reported by Cryptootics.
The case closure is enthusiastic about the cryptocurrency community and sees the news as follows: Industry victory over the SEC.
The rise in XRP prices is merely a sign of optimism produced by this outcome. Under relaxed regulatory pressure, Ripple and other companies in the sector They can now focus on innovation and public adoption.
(TagStoTRASSLATE) Cryptocurrency (T)
