The legal tug-of-war over the future of crypto between the SEC and Ripple rages on. A federal judge ruled that the SEC had one key claim correct, but not another.
The high-profile legal brawl between San Francisco crypto giant Ripple and the U.S. Securities and Exchange Commission has led to a split decision after a federal judge affirmed a key claim by the regulator but rejected another.
The SEC sued Ripple in 2020, accusing the company, co-founder Christian Larsen and CEO Brad Garglinghoue of failing to register roughly $1.3 billion worth of its XRP. The legal battle was expected to have serious implications for the crypto industry. Ex // Top Stories SF rolls out new online reservation system amid shelter push Adults experiencing homelessness can now join a shelter waitlist online or by phone, rather than waiting in line
The SEC’s lawsuit is based on the agency’s key claim that most cryptocurrencies are, in fact, securities that must comply with strict financial regulations, including strict disclosure requirements similar to those followed by publicly traded companies. The crypto industry rejects that view.
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