Securities and Exchange Commission (SEC), there appears to be no end in sight for the dispute.
Recently, Ripple CEO Brad Garlinghouse and the company’s General Counsel, Stuart Alderoty, took to Twitter to blast the SEC for their handling of the case. In a series of strongly worded tweets, Garlinghouse criticized the SEC’s lack of regulatory clarity, stating that it is hindering innovation and growth within the cryptocurrency industry.
Meanwhile, Alderoty hit back at the SEC’s recent motion to dismiss the case, calling it
“meritless” and stating that the agency has failed to provide any evidence of wrongdoing on Ripple’s part.
Despite the heated rhetoric on both sides, it appears that no settlement has been reached in the lawsuit. The case, which was first filed by the SEC in December 2022, accuses Ripple of conducting an unregistered securities offering through the sale of its XRP cryptocurrency.
The dispute has been closely watched by the cryptocurrency community, with many expressing concerns about the potential impact on the industry as a whole. Some have argued that the SEC’s actions could stifle innovation and investment in the space, while others believe that regulation is necessary to protect investors and ensure a level playing field.
As the legal battle continues, it remains to be seen what the ultimate outcome will be for Ripple, the SEC, and the broader cryptocurrency industry.
— bill morgan (@Belisarius2020) March 30, 2023