Brad Garlinghouse, CEO of Ripple Labs, has pledged to contest the United States Securities and Exchange Commission (SEC) in court following the regulator’s announcement that it would appeal a district court decision regarding the firm.

XRP, the native token of Ripple, experienced a significant decline of over 12% on Thursday, dropping to 51 cents per coin, following the US Securities and Exchange Commission’s (SEC) announcement to appeal a pivotal court ruling.

The SEC has filed an appeal in the Ripple Labs vs SEC case ruling causing the prices of XRP to drop by approximately 14%. Timeline of the appellate.

The US Securities and Exchange Commission appealed a court decision ordering Ripple Labs Inc. to pay a $125 million civil penalty for improperly selling its XRP token, a fraction of the $2 billion the regulator sought in a long legal battle with the cryptocurrency company.

Ripple was fined $125 million for defrauding institutional investors — but it was a tiny fraction of the $2 billion fine the SEC asked for.

Ripple Labs CEO Brad Garlinghouse vowed to fight the US Securities and Exchange C (SEC) in court after the regulator revealed its intention to appeal a district court’s ruling on its XRP token last year.

The United States Securities and Exchange Commission (SEC) has filed an appeal seeking to overturn Judge Analisa Torres ruling that… Continue reading SEC appeals Ripple lawsuit ruling that found XRP not a security The post SEC appeals Ripple lawsuit ruling that found XRP not a security appeared first on ReadWrite.

The Securities and Exchange Commission has appealed a court ruling in its case against Ripple Labs, under which the cryptocurrency company was fined $125M for improperly selling its XRP (XRP-USD) token.