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Schultz Shares Thoughts on Recent Dismissal of Crypto Litigation Case

October 26, 2023

Securities Enforcement & Litigation partner Christian Schultz was quoted in recent articles from Bloomberg and Coinspeaker discussing the U.S. Securities and Exchange Commission (SEC)’s recent dismissal of its case against crypto firm Ripple Labs. A judge initially ruled in July that while sales of Ripple's XRP token to institutional investors breached securities laws, open market sales did not.

Schultz, former Assistant Chief Litigation Counsel in the SEC's Division of Enforcement, told both Bloomberg and Coinspeaker that the SEC dismissed the case partly to “avoid delaying the appeal on the SEC’s claims against Ripple and the executives,” which were rejected in the judge’s July ruling.

» Read the Bloomberg article: “SEC Asks Judge to Dismiss Charges Against Ripple Co-Founder, CEO” (subscription required).

» Read the Coinspeaker article: “SEC Clears Ripple Executives of All Charges in Lawsuit, XRP Price Shoots.”