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August 9, 2022
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Ripple News: U.S. Federal Court Dismisses SEC’s Motion against Ripple

 

●  Final Verdict between SEC and Ripple has been declared.

●  XRP Holders celebrating the US Federal Court’s Decision.

●  Ripple’s CEO Brad Garlinghouse shared his personal views in an interview regarding the SEC’s against Ripple.

U.S. Securities and Exchange Commission’s(SEC)’s motion to renege the “amici curiae” or “friends of the court” status given to the XRP owners has been dismissed by the U.S. federal court on Tuesday. The SEC and the XRP were in the battle for a long time. In December 2020, SEC even sued Ripple for selling unregistered securities to which Ripple did deny.

The SEC wrote:“Movants do not propose briefing on legal issues. Instead, they wish to present arguments based on 3,252 affidavits ‘attesting’ to certain facts.”

While Ripple’s CEO Brad Garlinghouse, had discussed the result of the legal battle with SEC in interviews and he has mentioned “The SEC only has jurisdiction in the United States, and in some ways … How the world is operating right now is as if the case has been lost.” He also added,”If Ripple loses the case, does anything change? It’s basically just status quo. Ripple is still growing very, very quickly,” However, he was also confident that Ripple would win the case against SEC and said

“I’m betting that because I think the facts are on our side. I’m betting that because the law is on our side.” and further explained, “I think the SEC has massively overstepped and is trying to take kind of jurisdictional ownership over something that is … I think they saw this gray area they’re like ‘hey we are going to go in,” concluding with, “It’s frustrating it’s taking this long. There’s a lot of companies, I think, that realize how important this case is to the whole industry.”

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