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<ul>
 <li>Ripple’s CLO discloses SEC’s XRP security acknowledgment offer, leading to ongoing legal conflict.</li>
 <li>U.S. District Judge Torres rules XRP not a security, contradicting SEC’s allegations.</li>
 <li>Stuart Alderoty highlights victory, revealing SEC’s perceived inconsistencies and oppressive tactics.</li>
</ul>
<p>In a surprising revelation, Stuart Alderoty, Chief Legal Officer (CLO) of <a href="https://ripple.com/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a>, has disclosed crucial details about a settlement offer from the U.S. Securities and Exchange Commission (<a href="https://www.sec.gov/" target="_blank" rel="noopener noreferrer nofollow">SEC</a>) before the initiation of Ripple’s three-year legal struggle. Alderoty’s revelations on the X platform provide a deeper insight into the complex dynamics of the ongoing legal saga between Ripple and the SEC.</p>
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   <p lang="en" dir="ltr">Before the SEC sued Ripple, Chris and Brad (3 yrs ago today) they offered us the following settlement: the SEC would announce to the market that XRP is a security and the market would be given a short window to “come into compliance.” We said no because: (1) XRP is not a…</p>— Stuart Alderoty (@s_alderoty) <a href="https://twitter.com/s_alderoty/status/1738337842948919804?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 22, 2023</a>
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<p>The SEC’s proposed settlement included a public acknowledgment that XRP, the contentious digital asset, qualifies as a security. Additionally, the regulatory body presented a narrow timeframe for market alignment with existing securities laws, providing stakeholders an opportunity to “come into compliance.”</p>
<p><a href="https://cryptonewsland.com/ripple-ceo-challenges-former-sec-chairs-crypto-regulation-stance/" target="_blank" rel="noopener noreferrer nofollow">Ripple, steadfast in its conviction</a> that XRP wasn’t a security, rejected the SEC’s offer, marking a pivotal decision that laid the foundation for the protracted legal battle that ensued.</p>
<p>On December 22, 2020, the SEC officially charged Ripple, alleging securities law violations related to the sale of XRP. A significant turning point occurred on July 13 when U.S. District Judge Analisa Torres ruled that XRP itself does not inherently qualify as a security, contradicting the SEC’s assertions.</p>
<p>Commenting on the judgment, Alderoty emphasized that the case’s core focus was to establish that <a href="https://cryptonewsland.com/ripple-wins-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">XRP is not inherently a security</a>, irrespective of how others interpret it. Despite skepticism, Ripple emerged victorious, underlining its commitment and resilience in the face of the intense legal confrontation with the SEC.</p>
<p>Alderoty highlighted Ripple’s role in exposing what he termed as the SEC’s “hypocrisy and tyranny” during the lawsuit, referencing a moment when Magistrate Sarah Netburn criticized the SEC for seemingly prioritizing its own goals over adherence to the law.</p>
<p>In essence, Ripple’s journey through the SEC lawsuit symbolizes resilience, challenging norms, and contributing to the ongoing conversation about the regulatory landscape for cryptos. As the legal battle continues, the crypto community keenly anticipates further developments that could shape the future of blockchain-based financial systems.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ripples-clo-joins-deaton-in-challenging-secs-actions/" rel="noopener noreferrer nofollow">Ripple’s CLO Joins Deaton in Challenging SEC’s Actions</a></li>
 <li><a href="https://cryptonewsland.com/ripple-clo-and-pro-xrp-lawyer-slam-secs-gensler-for-anti-crypto-stance/" rel="noopener noreferrer nofollow">Ripple CLO and Pro-XRP Lawyer Slam SEC’s Gensler for Anti-Crypto Stance</a></li>
 <li><a href="https://cryptonewsland.com/ripples-legal-counsel-calls-for-sec-accountability-in-crypto-regulation/" rel="noopener noreferrer nofollow">Ripple’s Legal Counsel Calls for SEC Accountability in Crypto Regulation</a></li>
 <li><a href="https://cryptonewsland.com/ripples-legal-chief-says-lawsuit-win-is-in-the-bag/" rel="noopener noreferrer nofollow">Ripple’s Legal Chief Says Lawsuit Win Is in the Bag</a></li>
 <li><a href="https://cryptonewsland.com/sec-seeks-770-million-in-ripple-case-as-settlement-talks-continue/" rel="noopener noreferrer nofollow">SEC Seeks $770 Million in Ripple Case as Settlement Talks Continue</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/ripple-clo-unveils-sec-settlement-offer-marking-legal-milestone/" rel="noopener noreferrer nofollow">Ripple CLO Unveils SEC Settlement Offer, Marking Legal Milestone</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple CLO Unveils SEC Settlement Offer, Marking Legal Milestone

Crypto News Land

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