🔥 Gate Post Ambassador Exclusive Posting Reward Task Round 4 Is Live!
Not yet a Gate Post Ambassador? Apply now 👉 https://www.gate.com/questionnaire/4937
Join the Ambassador Task and post daily from June 9 to June 15, get your posts rated, and share a $300 prize pool based on your ratings!
🎁 Reward Details:
S-Level Weekly Ranking Reward
Post every day for 7 days with an overall quality score above 90 to qualify for S-Level.
2 outstanding ambassadors will each receive a $50 trading fee rebate voucher.
A/B-Level Tiered Rewards
Based on the number of posts and their quality, ambassadors will
Ripple CLO Sheds Light on SEC's Decision to Drop XRP Claims
Ripple's Chief Legal Officer (CLO), Stuart Alderoty, has provided insights into the U.S. Securities and Exchange Commission's (SEC) decision to drop charges against Ripple executives Brad Garlinghouse and Chris Larsen after a protracted four-year legal battle.
Focus on Institutional Sales
Alderoty highlighted that the SEC's case primarily hinged on allegations that Ripple's sales of XRP constituted unregistered securities offerings. However, the court's prior ruling clarified that XRP itself is not a security, and the SEC ultimately chose to dismiss the claims against the executives.
Strategic Shift by the SEC
The Ripple CLO suggested that the SEC's decision to drop the charges against Garlinghouse and Larsen was a strategic move. He implied that pursuing the case against the executives became less compelling after the court's partial victory for Ripple regarding programmatic sales of XRP on exchanges.
Implications for Regulatory Clarity
The dismissal of charges against Ripple's executives is viewed as a significant step towards greater regulatory clarity for XRP and the broader cryptocurrency industry in the United States. It reinforces the notion that the manner in which a digital asset is sold is crucial in determining its regulatory status.