Ripple co-founder asks US court to dismiss SEC's charges

Ripple co-founder Chris Larsen has asked a U.S. court to dismiss the Securities and Exchange Commission’s (SEC) case against him. Chris Larsen’s lawyers said the SEC’s amended complaint “still fails to clarify what is required of Larsen.”

The SEC failed to prove that Larsen knew at the time that XRP was a security. The SEC's allegations are insufficiently substantiated and do not meet the standards. " Earlier news, the U.S. SEC has filed a revised indictment against Ripple. Jeremy Hogan, an attorney who has been closely following the progress of the case, said that the revised indictment now contains more factual details about the defendants in this case, Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.