Final Legal Submission Concluded After 2 Years: Ripple vs SEC

CryptoPotato | Chayanika Deka  | Dec 5, 2022

XRP vs SEC - Final Legal Submission Concluded After 2 Years:  Ripple vs SEC

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The long-running legal spat between Ripple and the SEC and Ripple is drawing close after two years.

  • Stuart Alderoty, General Counsel of Ripple, confirmed the company’s “final submission,” urging the court to grant judgment in its favor and said that Ripple is proud of the defense it has mounted on behalf of the entire digital asset industry.
    • According to the court document, the San Francisco-based blockchain company asserted that the United States Securities and Exchange Commission (SEC) has failed to prove the existence of any investment contracts governing the defendants’ offers and sales of XRP between the period 2013 and 2020.
    • Ripple also said that both its founders are entitled to summary judgment on their decision to sell on foreign exchanges and added that the SEC could not provide any material fact to the contrary.

See:  Legal experts say “This Is It” moment for XRP in Ripple lawsuit,

Brad Garlinghouse CEO XRP took to Twitter to congratulate the team:

“I said it on day 1, we will aggressively fight to get clear rules for the entire industry in the U.S. Congrats to all of Team Ripple for getting us to this point. Ripple stood strong and withstood the SEC’s onslaught. I look forward to being on the right side of justice.”

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