US SEC drops claims against two Ripple Labs executives
© Reuters. FILE PHOTO: The seal of the U.S. Securities and Exchange Commission is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File PhotoLabs executives in its lawsuit alleging the blockchain company violated U.S. securities law, according to a court filing in New York on Thursday.
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. She also ruled partly in the SEC's favor, saying the agency had shown the company's $728.9 million of XRP sales to hedge funds and other sophisticated buyers had violated the law.
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