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 <p>The SEC will drop its lawsuit against Ripple XRP executives, the commission said on Thursday. In a document sent to New York district judge Analisa Torres, Jorge Tenreiro, an SEC enforcement councilman, says that the regulator is “voluntarily dismissing the case.”</p>
 <p>In a direct response to the submission, the Chief Legal Officer of Ripple Stuart Alderoty says that the SEC dropping the lawsuit isn’t a settlement, but a surrender. “The SEC made a serious mistake going after Brad &amp; Chris personally,” Alderoty says in a post on X. “And now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC.”</p>
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    <p lang="en" dir="ltr">The SEC made a serious mistake going after Brad &amp; Chris personally – and now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC. https://t.co/TOsG64ZdEx</p>
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    </div> — Stuart Alderoty (@s_alderoty) October 19, 2023
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 <p>In the letter, the SEC representative says that the regulator and Ripple officials intend to “meet and confer on a potential briefing schedule.” The SEC is requesting until November 9 to propose a date to the court for this meeting.</p>
 <h2 class="wp-block-heading" id="h-ripple-ceo-responds-to-sec-lawsuit-drop">Ripple CEO Responds to SEC Lawsuit Drop</h2>
 <p>Brad Garlinghouse, the CEO of Ripple, calls the decision by SEC another win for Ripple. “Chris and I (in a case involving no claims of fraud or misrepresentations) were targeted by the SEC in a ruthless attempt to personally ruin us and the company so many have worked hard to build for over a decade,” Garlinghouse says.</p>
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 <p><strong>Also Read: <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> vs. SEC: Lawyer’s Predictions Point to a Potential 2027 Resolution</strong></p>
 <p>He adds in the X post, ” The SEC repeatedly kept its eye off the ball while secretly meeting with the likes of SBF – failing again and again to protect US consumers &amp; businesses. How many millions of taxpayer (funds) were wasted?! Feels good to finally be vindicated.”</p>
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    <p lang="en" dir="ltr">JUST IN: 🇺🇸 SEC drops lawsuit against Ripple XRP executives. pic.twitter.com/sfTVfl3KU2</p>— Watcher.Guru (@WatcherGuru) October 19, 2023
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 <p>Previously, the federal court made a decision on July 13 ruling that as a matter of law XRP is NOT a <a rel="noopener noreferrer nofollow" title="sec" href="https://thebittimes.com/tag/sec.html">sec</a>urity. Last month on October 3, another decision denied the SEC’s bid for an interlocutory appeal. Now, the regulator’s <a rel="noopener noreferrer nofollow" title="lawsuit" href="https://thebittimes.com/tag/lawsuit.html">lawsuit</a> against <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a>’s excecutives is the latest win for <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> and crypto as a whole.</p>
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 <p><strong>Also Read: Judge Rejects SEC Motion to Appeal <a rel="noopener noreferrer nofollow" title="Ripple" href="https://thebittimes.com/tag/ripple.html">Ripple</a> XRP Ruling</strong></p>
 <p>Other SEC representatives have not yet given public response to the submission of the lawsuit.</p>
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<div class="cs-entry__tags">
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  <li>lawsuit</li>
  <li>Ripple</li>
  <li>sec</li>
  <li>xrp</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-drops-lawsuit-against-ripple-xrp-executives-tbt67044.html">https://thebittimes.com/sec-drops-lawsuit-against-ripple-xrp-executives-tbt67044.html</a></p>

SEC drops lawsuit against Ripple XRP Executives

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