Ripple CEO Reveals New Details About SEC Lawsuit

2021-1-8 01:25

Ripple CEO Brad Garlinghouse has revealed several new details about the SEC’s lawsuit against the firm and its XRP sales.

Ripple Tried to Settle With SEC

Garlinghouse revealed on Twitter that Ripple was originally unable to settle with the U.S. Securities and Exchange Commission. Garlinghouse said that he “can’t get into specifics,” but wants investors to “know we tried” to settle. He says that the company will continue to negotiate with the SEC under the Biden administration.

On Ripple’s blog, Garlinghouse previously stated that Ripple has historically been “cooperating and acting in good faith with the SEC,” and that he and co-founder Chris Larsen were given the option to settle separately. That announcement did not reveal that Ripple itself had attempted to settle with the SEC at an earlier date, and today’s statement does not make clarify how far negotiations went.

Garlinghouse also stated that, now that legal proceedings have begun, there are “new considerations” about what he and other Ripple members are able to reveal publicly. However, the latest details imply that the path to a settlement looks increasingly complex.

Ripple Has No Control Over Listings

Garlinghouse also noted that Ripple has no control over the widespread exchange delistings that are currently underway. He added that most exchanges are not delisting XRP permanently. “Market participants are facing conflicting policies and, no surprise, some act conservatively,” he explained.

He did not say whether exchanges were originally paid to list XRP. However, he did say that some early adopters were paid to use Ripple’s On-Demand Liquidity Service in the form of incentives.

Garlinghouse says that this is practice is entirely lawful and practiced by major payments networks like Visa and Mastercard.

Legal Response Is Imminent

Elsewhere, Ripple’s legal counsel Stuart Alderoty has said that the firm’s full legal team will announce themselves soon, and that the firm will file a response to the SEC “within weeks.”

He added that the SEC has admitted that Ripple’s customers use XRP as a means of currency conversion, a fact that he says makes the asset “the epitome of a convertible virtual currency” rather than a security asset. Presumably, that fact would help the firm defend itself against the SEC’s current charges, which allege that the firm’s sales constitute an unregistered securities offering.

Ripple first announced the SEC’s charges on Dec. 22; legal proceedings will begin on Feb. 22.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.53 (+0.54%)
Объем 24H $1.143b
Изменеия 24h: 0.32 %, 7d: -2.24 %
Cегодня L: $0.5223 - H: $0.5358
Капитализация $29.379b Rank 7
Цена в час новости $ 0.3381 (56.76%)

sec lawsuit details new ceo reveals ripple

Источник: cryptobriefing.com

sec lawsuit → Результатов: 126


Фото:

Giving Up On Ripple: Grayscale Joins The Queue Of Institutional Investors Wiping XRP Off

Over the last few weeks, XRP has begun to lose its significance in the crypto space as the recent SEC lawsuit against Ripple has caused an adverse impact on the performance of the cryptocurrency. Recent reports have revealed several cases of diverse top exchanges delisting XRP from their trading services, thus resulting in a significant […]

2021-1-7 01:27


Фото:

XRP Surges as “Short Squeeze” Erases Days of Losses; What Comes Next?

XRP has been facing some immense pressure over the past few days and weeks, with the recent SEC lawsuit and an onslaught of exchange delistings rocking its price action The crypto is now trying to gain some momentum, with bulls stepping up and propelling the token higher overnight following a break above a key technical pattern Where the token trends in the mid-term will undoubtedly depend largely on whether or not bulls can sustain their […]

2021-1-2 01:00


Фото:

Coinbase Sued For Helping Ripple Raise Billions by Selling XRP

A plaintiff, Thomas Sandoval, is lodging a class action lawsuit at a San Francisco federal court against Coinbase. He alleges that the exchange received commissions by helping Ripple sell XRP without registering with the United States Securities and Exchange Commission (SEC), approving them to sell securities, a filing captured on Dec 30 reveals. The SandovalRead More

2021-1-1 10:22


Фото:

Ripple Assails the SEC, Claims the $1.3 billion Lawsuit is an ‘Attack on the Entire Crypto Industry Here in the United States’

Ripple has hit back at the U. S. Securities and Exchange Commission (SEC), accusing it of creating more uncertainty and failing in its duty to protect the crypto community. In panning the SEC’s decision to designate its XRP token as a security, the company claims the regulator’s lawsuit against it amounts to an attack on the […] The post Ripple Assails the SEC, Claims the $1.

2021-1-1 08:15


SEC vs Ripple Pretrial Conference Set for Feb; Majority of Customers & XRP Volume Not in the US

Ripple says the action against it is “an attack on the entire crypto industry” and the lawsuit has “affected countless innocent XRP retail holders” that have no connection with the company. The post SEC vs Ripple Pretrial Conference Set for Feb; Majority of Customers & XRP Volume Not in the US first appeared on BitcoinExchangeGuide.

2020-12-30 18:38


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

How Client Feedback Helped Shape PrimeXBT’s New Revamp

The most successful companies listen closely to their clients. They aim to deeply understand their unique set of needs and how best to serve them. As an award-winning Cryptocurrency broker, PrimeXBT has gone live with fresh, new branding, alongside a series of product improvements.

Not Part of the Raging Tech Industry? XERA Pro Empowers Everyone

The tech industry can feel like a closed club, filled with jargon and seemingly impenetrable concepts. But what if you don’t have a computer science degree or years of coding experience? Does that mean you’re shut out of the exciting world of blockchain technology? Absolutely not.