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18 April 2021

Ripple CEO Gives Two Reasons to Dismiss SEC Lawsuit - Decrypt

Ripple CEO Gives Two Reasons to Dismiss SEC Lawsuit - Decrypt


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As you may recall, the SEC originallyfiled the lawsuitin December 2020, alleging that Ripple had been unlawfully selling the XRP cryptocurrency.The SEC claimed that the company’s continued sales of XRP were tantamount to raising $1.3 billion in unregistered security offerings since 2013. .

Garlinghouse withpersonallyviolating the securities laws,” he said.  The Ripple CEO has been charged with violating securities laws because, according to the SEC, he sold his own XRP in order to aid and abet Ripple’s XRP sales

Even if Garlinghouse’s XRP transactions were deemed to be investment contracts, however, Solomon claimed the SEC still does not adequately prove that they fall within the scope of the Securities Act

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