Ripple, a major player in the business blockchain and cryptocurrency solution markets, has made an important announcement about a successful court battle. Both of the company’s top executives, Brad Garlinghouse and Chris Larsen, were cleared of all allegations brought against them by the SEC. Following a vote, the Commission decided to reject these claims “with prejudice,” bringing to an official close a protracted legal struggle that had been going on since December 22, 2020 when it first began.
In a statement on the case, Garlinghouse said, “Rather than targeting criminals exploiting customer funds on offshore exchanges, the SEC pursued us, who are operating a regulated business within the United States.”
The Timeline of the Case
The Securities and Exchange Commission (SEC) initiated this action by filing a civil complaint against Ripple and its senior executives in the latter half of the year 2020. Although no claims of fraud…
