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Ripple and the SEC push for a quick ruling

There could be a ruling soon in the XRP case.

By Finst News
• 2 min read
Ripple and the SEC push for a quick ruling

There could be a ruling soon in the XRP case. The US Securities and Exchange Commission and Ripple Labs are pushing for a quick ruling on XRP's legal status.

Both Ripple and the SEC have filed motions for a short injunction in the XRP dispute. "The filings today make clear that the SEC isn't interested in applying the law," Ripple CEO Brad GarlinghouseView post on X "They want to reshape everything in a misuse attempt to expand their jurisdiction far beyond the powers granted by Congress."

This case, which has been ongoing for nearly two years, centers on the legal status of XRP. According to the SEC, the cryptocurrency issued by Ripple is a security. In December 2020, Chris Larsen and Brad Garlinghouse were charged with allegedly selling unregistered securities worth $1.3 billion. The case is likely to set a precedent for evaluating other cryptocurrencies.

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