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The SEC has faced recent defeats in the case, including an unexpected ruling by Judge Analisa Torres in July that found that Ripple's sale of XRP on exchanges did not constitute an unregistered ...
In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP.
The case is SEC v Ripple Labs Inc et al, U.S. District Court, Southern District of New York, No. 20-10832. (Reporting by Jonathan Stempel and Jody Godoy in New York; Editing by Edwina Gibbs)
The judge must decide whether to let the SEC appeal her decision, and put the case on hold. Ripple, and lawyers for Ripple, Garlinghouse and Larsen did not immediately respond to requests for comment.
Another blow to the SEC's campaign came in August when a federal appeals court sided with an asset manager that hopes to launch the first bitcoin exchange-traded fund over the objections of the SEC.
The SEC sued Ripple in 2020, alleging that the sale of XRP was an unregistered securities offering. The judge's reasoning was that the institutional investors "would have purchased XRP with the ...
In late 2020, the SEC accused Ripple Labs and two of its executives, Brad Garlinghouse and Christian Larsen, with violating securities laws when raising $1.3 billion through various sales of XRP ...
Ripple's court victory over the SEC in July—a case in litigation since 2020—was seen as a boon not just for the company but the entire industry. In a landmark decision, ...