(Bloomberg) -- The Securities and Exchange Commission asked a federal judge in New York to dismiss its case against crypto company Ripple’s co-founder...
-- The Securities and Exchange Commission asked a federal judge in New York to dismiss its case against crypto company Ripple’s co-founder Christian Larsen and Chief Executive Officer Bradley Garlinghouse.Wall Street Hit by Volatility on Geopolitical Risk: Markets WrapThe SEC and Ripple intend to meet about a briefing schedule for discussing “what remedies are proper against Ripple” for its violations tied to institutional sales of the XRP token, agency attorneys wrote Thursday.
Ripple said in a statement that the regulator’s filing is a “stunning capitulation by the government.” Stuart Alderoty, the company’s chief legal officer, said on X, the platform formerly known as Twitter: “This is not a settlement. This is a surrender by the SEC.
The SEC under Chair Gary Gensler has taken a hard stance on crypto, claiming many products should be registered with the agency and moving forward with numerous enforcement actions against industry players.
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