![Ripple Clarifies XRP Is Not a Security After New Court Ruling Ripple Clarifies XRP Is Not a Security After New Court Ruling](https://static.news.bitcoin.com/wp-content/uploads/2024/06/xrp-security-status-768x432.jpg)
Judge Phyllis Hamilton found XRP could be a security when sold to retail and gave the go-ahead to a lawsuit over statements from Ripple CEO Brad Garlinghouse.
A United States federal court judge has greenlit a civil securities lawsuit against Ripple Labs, denying its summary judgment bid in a suit alleging its CEO broke California securities laws.
California District Court Judge Phyllis Hamilton’s June 20 order means a jury will decide if Ripple boss Brad Garlinghouse made “misleading statements” in a 2017 interview, the order has thrown out four allegations around Ripple’s “failure to register XRP as a security.”
In the 2017 interview on Canada’s BNN Bloomberg, Garlinghouse said he was “very, very long” on XRP (XRP) — but the suit alleges that was false as he “sold millions of XRP” throughout that year.
The White House has signalled it won’t veto the passage of the FIT21 bill despite U.S. Securities and Exchange Commission Chair Gary Gensler advocating against it. In a new press release, the White House says it does not support HR 4763, also known as the Financial Innovation and Technology for the 21st Century Act (FIT21), […]
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A newly filed class-action complaint alleges that Coinbase violated US securities laws. The complaint, which was filed in the Northern District of California’s San Francisco division on Friday, claims that the top US crypto exchange has been operating as “part of a shadowy crypto ecosystem operating just outside of the law.” “Its entire business model […]
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U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is declining to comment on whether smart contract platform Ethereum (ETH) counts as a security or a commodity. In a new interview with Bloomberg Television, Gensler says he does not want to answer questions about Ethereum’s classification as an asset amid anticipation of the regulatory agency’s […]
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