Ripple Labs announced Wednesday that the U.S. Securities and Exchange Commission (SEC) has abandoned its appeal of a court ruling that limited the regulator’s oversight of cryptocurrency markets. The decision follows a July 2023 ruling stating that Ripple’s XRP token sales on public exchanges did not qualify as securities.
While the SEC previously won a partial victory regarding $728 million in XRP sales to institutional investors—leading to a $125 million fine—the regulator’s withdrawal from further appeals signals a shift in its crypto enforcement strategy. Ripple CEO Brad Garlinghouse called the move a “resounding victory,” while Chief Legal Officer Stuart Alderoty declared that Ripple is now “in the driver’s seat.”
Under President Donald Trump’s second term, the SEC has softened its stance on crypto, dropping lawsuits against major exchanges like Coinbase and Kraken. With Trump’s nomination of pro-crypto lawyer Paul Atkins to replace SEC Chair Gary Gensler, the industry could see even fewer regulatory hurdles ahead.
Source: Swifteradio.com
