This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
Agency agrees to dismiss allegations against Ripple Labs executives after earlier losing part of its case against the company
Updated Oct. 19, 2023 7:11 pm ET
WASHINGTON—The Securities and Exchange Commission on Thursday said it would drop its lawsuit against two cryptocurrency executives who oversaw $1.5 billion in sales of a digital coin known as XRP, in a move that boosts the industry’s battle against traditional regulation.
The dismissal of civil claims against Brad Garlinghouse and Chris Larsen, who were sued for assisting Ripple Labs’s sales, will likely encourage wealthy crypto defendants to fight regulators in court. At the same time, the SEC’s withdrawal from the case preserves its resources for bigger lawsuits it has filed against crypto giants Coinbase and Binance.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Save up to $15 with TurboTax coupon 2023
- The Motley Fool:
Epic Bundle - 3x Expert Stock Recommendations
- H&R Block Tax:
Get 20% off H&R Block tax software products
- Top Resume:
Top Resume Coupon: 10% off professional resume writing
Free installation for Yokohoma tires with this eBay coupon code
Up to $50 off any order with Groupon promo code