- There has been a new development in the legal battle between SEC and Ripple.
- Momentum shifted in favor of Ripple Labs Inc. as the United States District Judge denies the SEC’s Sur Sur-Reply.
- XRP price is still down despite the victory for the Ripple community due to Russia’s attack on Ukraine
District Judge Torres has denied the US SEC’s motion to file a Sur Sur-Reply in support of its motion to strike against Ripple.
To bring the uninitiated up to speed, the SEC filed a lawsuit back in December 2020 against Ripple Labs Inc. and two of its executives, co-founder Christian Larsen and CEO Bradley Garlinghouse, stating that they have sold over $1.3 billion via XRP that is alleged to be an unregistered security.
During the proceedings, Ripple lawyers filed a Sur-Reply, which mentioned that this is the agency’s first case in which they have enforced actions against a company or its individual executives for overselling an established digital asset.
In an ongoing legal battle that has seen the
