Brad Garlinghouse, Ripple CEO, speaks at the Global Conference of the Milken Institute of the Institute 2022 at Beverly Hills, California, USA, May 4, 2022.
Mike Blake | Reuters
It seems that perennial cryptocurrency against the cryptum of the Commission for Securities and the Crypto of the Perennial cryptocurrency.
The last chapter closed on Wednesday, when ripple announced That sec has officially rejected his four -year lawsuit against the company. A lawsuit, filed on the last day of Jaya Clayton, as a SEC chair, charged Ripple for collecting $ 1.3 billion by selling your XRP Token without registration as security.
Crypto companies and exchange CoinKraken, SlavesBinance and OpenSea have seen lawsuits or investigations rejected, resolved or put on hold. Ripple now takes a circle of victory.
“Ripple stands on its own as a fighting company -and won the basic legal issues -throwing the main key in the Sec’s plans to destroy cryptocurrencies in the US through implementation,” said Ripple Stuart Alderoty Director General in a statement to CNBC in a statement. “The sec has now left its appeal in our case. In a convenient irony, Ripple was the first major case they brought and will now be the last one they are moving away from.”
The XRP was created in 2012 as one of the first crypto currencies that are not bitcoin. It was started by Ripple’s founders and became a gender currency platform. Like Bitcoin, XRP can be purchased and sold by retailers in retail. Xrp He jumped about 11% after the announcement on Wednesday.
Ripple spent $ 150 million, fighting a government in a blue legal opposition to former presidency SEC, Gary Garzer, whose approach to Kripto was considered hostile to Kripto. In July 2023Federal judge ruled that XRP “Not necessarily the safety on the face”, Understanding the foundation of the SEC case.
The victory was not just a turning point for Ripple. Signalized the crypto industry that the tide was turning and building a momentum for a movement that helped return President Donald TrumpFormer crypto critic, in the White House. One year after the judge’s judgment, Trump as a Republican candidate submitted a cognition At the Bitcoin annual conference, he announced that “it sets my plan to ensure that the United States will be the Criplet of the Criplings of the Planet and the Bitcoin Superiyve of the World.”
Ripple and his crypto peers were main associates to Trump’s campaign. The president spent the first two months on their duties, returning them.
New leadership
On Friday, sec hosted his first large cryptocurrency round tablesignaling a new approach to regulation through engagement, not implementation. The leading effort is Hester Peirce, which helps the newly founded crypto working group of the regulator.
Peirce’s message to the industry is that sec is no longer an opponent, but instead trying to give a crypto a clear, legal frame.
In a large turnaround of politics, sec abolished Personnel Accounting Biltene 121 – A controversial rule that required banks to treat the crypt with property as obligations on their balance sheets. Introduced in 2022, and was advocated by Gensler, the rule was widespread as a major obstacle to the institutional acceptance of Bitcoin and other digital assets.
“Goodbye, Goodbye Sab 121! There was no fun,” Peirce wrote in a post on x After the change was announced in January.
At the World Economic Forum in Davos, Switzerland, that month, executive directors Goldman Sachs,, Morgan Stanleyand Bank of America hinted that thawing in Washington could lead to renewed Crypto engagement.
US President Donald Trump sits next to Kripto Car David Sacks on the Crypto white house at the White House in Washington, DC, USA, March 7, 2025.
Evelyn Hockstein | Reuters
And in the White House, David Sacks, Trump’s Ai and Crypto Czar, stood by the president as he signed Executive command on digital property. The bags recently attended Crypto ball As part of the inauguration, where he stated: “The war of the crypto is over.”
Coinbase’s The lawsuit was rejected in February. Then he came Kraken. Dec retiring From his well against Robinhooh’s crypto division. Binance investigation is included keep.
Ripple’s legal team Long claimed that the SEC’s strategy is not in compliance with the law, but about use as a dull instrument. The regulator sent a court invitation to foreign regulators working with Ripple, required Tries from business partners documents and even sued CEO of Brad Garlinghouse and co -founder Chris Larsen personally. These accusations were also rejected.
“While this chapter is closed, the struggle for a clear, honest and transparent crypto regulation continues,” Alderoty told CNBC. “Ripple will still lead that fight.”
