XRP Community Celebrates Victory in Legal Battle Against SEC
The XRP community recently celebrated a major victory in their legal battle against the U.S. Securities and Exchange Commission (SEC). Ripple CEO Brad Garlinghouse expressed gratitude and determination to persevere during a party held to commemorate the occasion.
Garlinghouse Reflects on the Battle and Community Support
During the event, Garlinghouse acknowledged the collaborative effort of the XRP community in achieving this triumph. He emphasized that it takes a collective effort to fight against powerful entities and praised the community for beating the bully.
Recognition for Key Figures in the Pro-XRP Movement
Garlinghouse also recognized lawyers John Deaton, Jeremy Hogan, and James Filan for their constant updates and commentaries that helped keep the community informed throughout the legal dispute.
Deaton Receives Defender of Freedom Award
John Deaton, a pro-Ripple lawyer, received the prestigious Defender of Freedom Award from the International Congress of Blockchain Legal Advisors (ICBLA) for his role in championing the rights of digital asset owners and his contributions to the SEC v. Ripple case.
Status of XRP Lawsuit
The lawsuit between Ripple and the SEC has been ongoing for nearly three years. The SEC accused Ripple and its co-founders of violating securities laws by selling $1.3 billion worth of XRP without proper registration. Ripple argued that XRP should be classified as a commodity rather than a security.
While Ripple achieved a landmark win in July 2023, this particular aspect of the case remains contentious. The SEC believes it warrants an appeals court’s attention for an interlocutory appeal.
Ripple’s Commitment to Continue the Legal Battle
Ripple remains committed to fighting the case with the SEC in the event of an appeal. Ripple’s President, Monica Long, stated in a recent CNBC interview that they are prepared to fight the case “all the way through.”
Hot Take: XRP Community Celebrates Victory and Remains Determined to Fight
The XRP community has much to celebrate with their recent victory against the SEC. Their collaborative efforts and resilience have paid off, but the legal battle is not over yet. Ripple’s leadership and key figures in the pro-XRP movement are determined to continue fighting for what they believe in. As they navigate through potential appeals, their unwavering commitment and community support will be crucial in shaping the future of XRP.
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