Ripple CEO Files Dismissal Motion on SEC Charges

2021-3-4 12:42

Ripple CEO Brad Garlinghouse released a copy of a letter filed by his attorneys declaring his intent to file a motion of dismissal on SEC charges laid against him.

The charges stem from a December 2020 case lodged against Ripple Labs and a few key executives by the SEC. The SEC claims that XRP is categorized as a security, therefore making its sales in the U.S. illegal.

Garlinghouse has been adamant that XRP should not be classified as a security and should be viewed the same as Bitcoin or Ethereum. Both cryptocurrencies have already been deemed to not be securities by the SEC.

After the lawsuit was initially brought against Ripple Labs, Garlinghouse stated;

“No other country has classified XRP as a security. The SEC has permitted XRP to function as a currency for over eight years, and we question the motivation for bringing this action just days before the change in administration.”

On March 3, 2021, Garlinghouse’s lawyers filed a letter “indicating intent to file a Motion to Dismiss in response to the SEC’s amended complaint.”

Today, a letter was filed on my behalf indicating my intent to file a Motion to Dismiss in response to the SEC’s amended complaint against me. Simply put, the SEC’s allegations are regulatory overreach. The letter speaks for itself: https://t.co/bwj9YdDOQw

— Brad Garlinghouse (@bgarlinghouse) March 3, 2021

The SEC’s initial charges were amended in a Feb. 18, 2021 document that focused on charges against Garlinghouse of aiding and abetting unregistered sales of XRP. His legal team’s defense claims that in order to land aiding and abetting charges, they must prove that Garlinghouse knowingly participated in Ripple committing violations.

Shortly before the ammended charges we released, Ripple and the SEC filed a joint letter to the U.S. Southern District of New York federal court. It mentioned that there is currently no “prospect for settlement at this time.”

The case is not expected to conclude before Aug. 16, 2021.

The post Ripple CEO Files Dismissal Motion on SEC Charges appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5313 (+0.74%)
Объем 24H $1.139b
Изменеия 24h: 4.34 %, 7d: 4.70 %
Cегодня L: $0.5077 - H: $0.5342
Капитализация $29.373b Rank 7
Цена в час новости $ 0.4756 (11.71%)

sec charges ripple xrp 160 claims categorized

Источник: beincrypto.com

sec charges → Результатов: 126


SEC Extends Olive Branch to Broker-Dealers Handling Digital Assets

The move follows official charges recently brought on Ripple executives. The SEC, according to the statement, seeks to “encourage innovation” regarding digital asset securities. The Commission will reportedly grant a grace period of five years to broker-dealers who have handled digital asset securities: “…a broker-dealer operating under the circumstances set forth in the statement will … Continued The post SEC Extends Olive Branch to Broker-Dealers Handling Digital Assets appeared first on BeInCrypto.

2020-12-24 23:50


Crypto Exchanges Rush to Delist XRP Following SEC Charges

XRP has plunged since the charges came to light. The former third-ranked cryptocurrency by market cap dropped from around $0.52 on Monday to around $0.33 at the time of writing. Please note: In light of US Securities & Exchange Commission’s enforcement action against Ripple Labs & 2 of its executives, we have suspended all #XRP … Continued The post Crypto Exchanges Rush to Delist XRP Following SEC Charges appeared first on BeInCrypto.

2020-12-23 18:33


After Targeting BitMEX, SEC Takes On John McAfee, Who Made Over $23M From Fraudulent ICO Promotions

SEC’s next target, finally, is John McAfee. In just a week, the US Securities and Exchange Commission went after BitMEX, and the 74-year-old software magnate turned crypto bull. McAfee was reportedly nabbed in Spain today and is now facing extradition to the US over charges of fraud for promoting initial coin offering (ICO) and tax evasion, […] The post After Targeting BitMEX, SEC Takes On John McAfee, Who Made Over M From Fraudulent ICO Promotions first appeared on BitcoinExchangeGuide.

2020-10-6 17:28


SEC Charges eSports Platform, Unikrn, A $6.1M Penalty For An Unregistered ICO; Hester Peirce Dissents

On September 15, the U. S. Securities Exchange Commission (SEC) charged Seattle-based eSports gaming firm, Unikrn, for conducting an unregulated ICO between June and October 2017. The statement from SEC claims Unikrn made an ICO raise of $31 million from selling its native UnikoinGold (UKG) token, promising to add more features to the gaming platform and […] The post SEC Charges eSports Platform, Unikrn, A .

2020-9-17 16:26


SEC оштрафовала рэпера T.I. за продвижение мошеннического ICO

Рэпер Клиффорд Харрис-младший, известный под сценическим именем T. I. , согласился урегулировать с Комиссией по ценным бумагам и биржам США (SEC) обвинение в продвижении мошеннического ICO. SEC charges film producer, rapper, and others for participation in two fraudulent ICOs https://t.

2020-9-15 10:37


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru