{"id":138469,"date":"2024-10-03T14:00:12","date_gmt":"2024-10-03T11:00:12","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=138469"},"modified":"2024-10-03T13:44:47","modified_gmt":"2024-10-03T10:44:47","slug":"ripple-responds-to-secs-appeal-slams-ongoing-legal-battle-as-wasteful","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ripple-responds-to-secs-appeal-slams-ongoing-legal-battle-as-wasteful\/","title":{"rendered":"Ripple Responds to SEC&#8217;s Appeal, Slams Ongoing Legal Battle as Wasteful"},"content":{"rendered":"<p>This <strong><a href=\"https:\/\/cryptodnes.bg\/en\/sec-moves-to-appeal-ripple-case-ruling-xrp-price-declines\/\">appeal<\/a><\/strong> follows a key August decision that yielded mixed results for the agency. Ripple\u2019s CEO, Brad Garlinghouse, and CLO, Stuart Alderoty, expressed disappointment over the SEC\u2019s choice to appeal and vowed to continue fighting in court.<\/p>\n<p>The SEC\u2019s lawsuit, initiated in December 2020, accused Ripple of conducting an unregistered securities offering worth $1.3 billion through <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/xrp\/\">XRP<\/a><\/strong> sales. The regulator argues that the court\u2019s ruling contradicts established Supreme Court precedents.<\/p>\n<p>While Ripple welcomed parts of the ruling, particularly the finding that retail XRP sales on exchanges were not violations of securities laws, the court did find that Ripple\u2019s sales to institutional investors amounted to unregistered securities, resulting in a $125 million penalty. The SEC had originally sought a fine of $2 billion, making the outcome a partial win for Ripple.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-138428\" href=\"https:\/\/cryptodnes.bg\/en\/what-happened-to-changpeng-zhaos-wealth-during-his-prison-stay\/\" title=\"What Happened to Changpeng Zhao&#8217;s Wealth During His Prison Stay?\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/person-changpeng-zhao-01-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">What Happened to Changpeng Zhao&#8217;s Wealth During His Prison Stay?<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Following the announcement of the appeal, XRP\u2019s value dropped approximately 9%, trading just above $0.54. Garlinghouse criticized the SEC for prolonging the litigation, asserting that they had already lost on critical points and that XRP\u2019s status as a non-security is upheld by law.<\/p>\n<p>Alderoty <strong><a href=\"https:\/\/x.com\/s_alderoty\/status\/1841596012588114116\" rel=\"nofollow\">supported<\/a><\/strong> this view, highlighting the court\u2019s finding that there were no \u201cvictims or losses\u201d in the case and suggesting that the SEC is engaged in unwarranted litigation against the crypto industry. The Ripple team is also considering a cross-appeal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC is appealing a recent federal court ruling in its ongoing case against Ripple Labs and XRP, filing the notice with the Second Circuit Court of Appeals on October 2.<\/p>\n","protected":false},"author":7,"featured_media":29486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[424,223],"coin_category":[],"class_list":["post-138469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-crypto","tag-xrp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ripple Responds to SEC&#039;s Appeal, Slams Ongoing Legal Battle as Wasteful<\/title>\n<meta name=\"description\" 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