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In a landmark decision, the U.S. Securities and Exchange Commission has cleared Ripple’s CEO, Brad Garlinghouse, and Executive Chairman, Chris Larsen, of all ‘baseless’ allegations in a long-standing securities violation case. This development marks a significant victory for Ripple after enduring nearly three years of intense regulatory scrutiny.charges signifies a pivotal moment in the ongoing dispute between the cryptocurrency industry and the regulatory authority.
Simultaneously, Executive Chairman Chris Larsen expressed his sense of vindication, emphasizing the personal toll this lawsuit took on both individuals. He raised pertinent questions about the origin and motivation behind the SEC’s legal pursuit, highlighting what he perceived as an abuse of power.Despite this victory, Ripple’s pursuit of sound crypto regulation within the United States is far from over.
This legal development has implications not only for Ripple but for the broader cryptocurrency industry as well. Under Chair Gary Gensler’s leadership, the SEC has been striving to establish a clear regulatoryfor cryptocurrencies. However, this case demonstrates the complexity and challenges in classifying various digital assets as securities, a matter that is far from settled.senior execs.
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