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Ripple Triumphs as Judge Denies SEC’s Sur Sur-Reply Request

Published 02/24/2022, 12:45 PM
Updated 02/24/2022, 01:00 PM
© Reuters. Ripple Triumphs as Judge Denies SEC’s Sur Sur-Reply Request

  • 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

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