Ripple CEO Brad Garlinghouse announced that the U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against the company, marking the end of a four-year legal battle that has shaped the regulatory landscape for cryptocurrencies.
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- In a video shared on X, Garlinghouse called the SEC’s decision a “long-overdue surrender” and reiterated that Ripple was on the right side of both the law and history.
- In a video shared on X, Garlinghouse called the SEC’s decision a “long-overdue surrender” and reiterated that Ripple was on the right side of both the law and history.
- A federal judge ruled that XRP was not a security when sold on public exchanges, but sales to institutional investors were investment contracts, leading to a $125 million fine for Ripple.
- While the SEC had previously filed an appeal to challenge parts of the ruling, Ripple confirmed that the regulator will no longer pursue the case, pending a formal commission vote.
“This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let’s build.”
Brad Garlinghouse, CEO, Ripple
Following the news, XRP spiked over 14% to $2.55, hitting its highest level since 2021.
US SEC’s Stance on Crypto is Changing
In recent weeks, the SEC has backed off enforcement actions against major crypto firms, including Coinbase, Kraken, and Uniswap.
- Legal experts suggest the SEC’s retreat could signal a less aggressive approach toward crypto regulation, especially as the Trump administration pushes for clearer digital asset policies.
This article is published on BitPinas: Quick Take: XRP Surges as Ripple CEO Declares SEC Case Is Over
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