–Ripple Litigation Results SEC “Return Ripple Profits With Fine” Decision
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Interest in the outcome of the Ripple lawsuit is hot.
Recently, Ripple released a response to a lawsuit filed by the US Securities and Exchange Commission (SEC).
According to the response, Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larson must return the profits from the sale of Ripple to the federal court in Manhattan.
“This decision means that it functions as a store of value, exchange medium, account unit, etc., not a stake in Ripple profits.”
In particular, he said, “The SEC has ignored Ripple’s clear status as a virtual currency contradicting the results of the international regulatory system.”
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