The SEC Is a 'Bully,' Says Ripple Labs CEO After XRP Court Ruling
Ripple Labs CEO Brad Garlinghouse criticized the Securities and Exchange Commission (SEC), calling the agency a "bully" after a federal judge ruled that some of Ripple's sales of XRP did not meet the definition of a securities offering. The SEC accused Ripple of illegally raising $1.3 billion through the sale of XRP in 2020. The court's decision stated that XRP was not a security when sold on the secondary market but would be a security when sold to institutional investors.
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The SEC Is a 'Bully,' Says Ripple Labs CEO After XRP Court Ruling
Ripple Labs CEO Brad Garlinghouse criticized the Securities and Exchange Commission (SEC), calling the agency a "bully" after a federal judge ruled that some of Ripple's sales of XRP did not meet the definition of a securities offering. The SEC accused Ripple of illegally raising $1.3 billion through the sale of XRP in 2020. The court's decision stated that XRP was not a security when sold on the secondary market but would be a security when sold to institutional investors.