6 hours ago
20
The US Securities and Exchange Commission’s dismissal of its years-long suit against Ripple Labs, the developer of the XRP Ledger blockchain network, is simply a “victory for the industry,” Ripple CEO Brad Garlinghouse said astatine Blockworks’ 2025 Digital Asset Summit successful New York.
Earlier connected March 19, Garlinghouse revealed that the SEC would disregard its ineligible enactment against Ripple, ending 4 years of litigation against the blockchain developer for an alleged $1.3-billion unregistered securities offering successful 2020.
“It feels similar a triumph for the manufacture and the opening of a caller chapter,” Garlinghouse said connected March 19 astatine the Summit, which was attended by Cointelegraph.
Ripple’s CEO said the SEC is dropping its lawsuit against the blockchain developer. Source: Brad Garlinghouse
Related: SEC volition driblet its entreaty against Ripple, CEO Garlinghouse says
Major reversal
The dismissal is the latest — and arguably astir important — reversal by the SEC nether US President Donald Trump.
The bureau antecedently dropped charges against different crypto firms, including Coinbase, Kraken and Uniswap, for akin alleged securities instrumentality violations.
Under erstwhile President Joe Biden, the SEC brought upward of 100 enforcement actions against crypto firms, typically alleging nonaccomplishment to decently registry products that former SEC Chair Gary Gensler said fell nether the securities regulators’ jurisdiction.
Trump has taken a friendlier stance toward the burgeoning industry, promising to marque America the “world’s crypto capital” and appointing industry-friendly leaders to cardinal regulatory posts.
“The caller section started with the reset astatine some the Congress and the enforcement subdivision […] erstwhile Trump came successful and nominated Paul Atkins, Scott Bessent, [and] brought connected David Sacks,” Garlinghouse said.
Trump nominated Atkins and Bessent to caput the SEC and Treasury Department, respectively. Sacks is Trump’s artificial quality and “crypto czar,” a recently created White House advisory role.
“I truly profoundly believed that we were going to beryllium connected the close broadside of the instrumentality and connected the close broadside of history,” Garlinghouse said of his company’s protracted ineligible combat with US regulators, adding that, successful his view, the SEC was “just […] trying to bully” the crypto industry.
Now that regulatory headwinds person subsided, Ripple is focusing connected expansion, Garlinghouse added.
“Ripple has invested implicit $2 cardinal successful investments and acquisitions crossed the crypto landscape, and immoderate of those person thing to bash with XRP due to the fact that if crypto does well, I fundamentally judge Ripple volition bash well,” helium said.
Magazine: Classic Sega, Atari and Nintendo games get crypto makeovers: Web3 Gamer
English (US) ·