Stuart Alderoty
@s_alderoty
Chief Legal Officer @Ripple and President @NatCryptoAssoc. Over 35 years of legal experience with expertise in regulatory affairs and complex litigation.
293 Following 246.2K Followers
The final crossing of t’s and dotting of i’s – and what should be my last update on SEC v Ripple ever…
Last week, the SEC agreed to drop its appeal without conditions. @Ripple has now agreed to drop its cross-appeal. The SEC will keep $50M of the $125M fine (already in an interest-bearing escrow in cash), with the balance returned to Ripple. The agency will also ask the Court to lift the standard injunction that was imposed earlier at the SEC’s request. All subject to Commission vote, drafting of final documents and usual court processes.
That’s all folks!
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Today, Ripple moves forward—stronger than ever. This landmark case set a precedent for the domestic crypto industry.
With the SEC dropping its appeal, Ripple is now in the driver's seat and we’ll evaluate how best to pursue our cross appeal. Regardless, today is a day to celebrate this victory.
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@DavidSacks Double-click on that! Now let’s dismiss these baseless cases with no fraud, no victims—just a political agenda to cripple the US crypto industry. They’re a massive waste of gov’t time and resources.
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