Crypto's long battle with SEC comes to a close with Ripple victory

Brad Garlinghouse, CEO of Ripple, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2022. The Securities and Exchange Commission's years-long crusade against the crypto industry appears to be over. The final chapter closed on Wednesday, when Ripple announced that the SEC had officially dropped its four-year-old lawsuit against the company. The suit, filed on Jay Clayton's last day as SEC chair, accused Ripple of raising $1.3 billion through the sale of its XRP token without registering it as a security. Crypto companies and exchanges Coinbase , Kraken, Robinhood , Binance, and OpenSea all previously saw lawsuits or investigations dropped, resolved or put on hold. Ripple is now taking a victory lap. "Ripple stands alone as the company that fought back — and won on essential legal questions — throwing a major wrench into the SEC's plans to destroy crypto in the U.S. through enforcement," Ripple Chief Legal Officer Stuart Alderoty told CN ... Read full article.