Ripple’s Chief Legal Officer, Stuart Alderoty, recently revealed the details of the US Securities and Exchange Commission’s (SEC) settlement offer to the company. The SEC had requested Ripple to publicly acknowledge that XRP is a security and offered a short window for compliance. However, Ripple rejected the offer, maintaining that XRP is not a security.

In December 2020, the SEC filed a lawsuit against Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larson, accusing them of selling unregistered securities and raising over $1.3 billion. Ripple argued that the sale of XRP on public exchanges did not constitute an unregistered securities offering.

Recently, Judge Analisa Torres ruled in favor of Ripple, stating that the sale of XRP on public exchanges did not violate securities laws. As a result, the SEC dropped the charges against Garlinghouse and Larson.

Despite the ongoing legal battle, Ripple continues to assert that XRP is not a security and criticizes the SEC for not providing a clear regulatory framework for cryptocurrencies.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
People	Brad Garlinghouse, Stuart Alderoty, Hinman, Clayton, Chris Larson
Companies	Ripple, US Securities and Exchange Commission (SEC)
Currencies	XRP
Securities	None