Ripple CEO Brad Garlinghouse stated that the firm will proceed against the U.S. Securities and Exchange Commission (SEC) following the recent court decision in Ripple’s favor. In an X post on Wednesday, Garlinghouse stated that the firm would fight to the end, even though XRP has already been considered a non-security.The appeal was filed by the <a href="https://cryptotale.org/xrp-vs-sec-ripple-awaits-lawsuit-appeal-as-deadline-looms/" rel="noopener noreferrer nofollow">SEC</a> in response to the 2023 ruling, implying that the secondary sales of XRP were not a security under the law. However, the Ripple CEO made a bold statement claiming that the legal status of XRP will not change because of this appeal. Notably, the case might proceed until 2026.In July 2023, Judge Analisa Torres stated that XRP trading would not be a security under the Howey Test, but its institutional sales would be a security under US law. While Ripple rejoiced over the partial win, the SEC opposed the ruling, holding that this would facilitate secondary offerings. Undeterred by the appeal, Garlinghouse asserted that the ruling would be in his favor and vowed that he would fight till the end.“XRP&#39;s status as a non-security is the law of the land today - and that does not change even in the face of this misguided - and infuriating - appeal.”Based on the ruling, Ripple was fined $125 million for its institutional XRP sales. However, earlier this month, Ripple requested a <a href="https://cryptotale.org/xrp-lawsuit-ripple-requests-stay-on-order-sec-approves/" rel="noopener noreferrer nofollow">stay</a> on the penalty fee, to which the SEC approved. This ongoing battle has kept the cryptocurrency environment in vigil. Traders and investors wait in anticipation as the final verdict would play a major role in the future of the XRP.<a href="https://cryptotale.org/will-continue-the-battle-till-the-end-ripple-ceo-to-sec/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Will Continue the Battle Till the End: Ripple CEO to SEC

CryptoTale

Other articles published on Oct 3, 2024

Sonic Team Announces S Token Details and Airdrop Plan

BingX Exchange Hit by $26M Crypto Theft: Report

Sei (SEI) Faces Double-Digit Losses Amid Crypto Market Slump

Binance Labs Continues Investing in Promising Crypto Projects

Ethereum ICO Whale Sells 19,000 ETH Worth Over $47M Amid Market FUD

CoinGecko Reveals GeckoCon 2024 Speakers

Join our free newsletter for daily crypto updates!