Ripple Officially Ends Its Four-Year Legal Battle with the Securities and Exchange Commission Department

The Ripple SEC lawsuit started when the company was accused of illegally selling 1.3 billion worth of XRP. This was because the XRP token had not yet been registered as a security.

On Wednesday, the Securities and Exchange Commission (SEC) department officially announced the end of the four-year legal battle with Ripple. The Ripple SEC lawsuit started when the company was accused of illegally selling 1.3 billion worth of XRP. This was because the XRP token had not yet been registered as a security.

The Ripple lawsuit was not the SE’s only crypto-related legal battle, as other crypto companies were also sued. However, the cases related to Kraken, OpenSea, Binance, and Coinbase were all previously dropped or were put on pause. So, this marks the end of the SE’s fight against crypto.

$150M Battle: One Crypto Giant Took on the SEC and Won

Stuart Alderoty, , stressed the importance of this development. “At a time when the SEC was attempting to shut down crypto broadly in the U.S., Ripple was the only company that fought back and won on essential legal questions—major setbacks for the SEC.,”

After the was dropped, there was an 11% XRP price surge. However, some community members are still not satisfied with these statements and have asked for an official announcement. So, until the SE responds, there will still be doubt among XRP’s investors.

WE WANT AN ANNOUNCEMENT FROM THE SEC STATING THAT THEY HAVE DROPPED THE RIPPLE CASE, JUST LIKE THEY DID WITH EVERY OTHER CASE ! #XRP DROP A LIKE IF YOU AGREE !

Two years ago, a federal judge disapproved of the SE’s claim by stating that XRP is not a security. Still, the legal battle with the former SE head, Gary Gensler, continued, costing Ripple $150 million. This was not just a win for Ripple but the start of a movement for the crypto industry.

As the crypto community became more hopeful, Donald Trump’s flip on his crypto narrative also represented a new age. Trump used crypto’s popularity as a step to boost his own numbers and approval for the reelection.

New Crypto Frontier: Trump Vision and SE Transformation

Trump also gave a speech at the yearly Bitcoin conference. He stated, “laying out my plan to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world.”

With the reelection of a pro-crypto Donald Trump, the US government started changing its approach towards crypto. The latest example of this is the SE’s meeting on Friday, which signaled a complete new approach towards digital assets.

The leader of the crypto task force, Hester Peirce, is pushing to make SE regulations engagement-focused rather than enforcement. The new SE leadership is creating a clear and secure framework for crypto platforms rather than only regulating them.

Additionally, as a part of its pro-crypto reversal, the SE has recently revoked the Staff Accounting Bulletin 121 rule. Bulletin 121 worked as an obstacle to the adoption of crypto by traditional institutions. This would force banks to record cryptocurrencies as liabilities when putting out their balance sheet. The head of the crypto task force celebrated this change by stating, “Bye-bye, SAB 121! It’s not been fun.”

The SE’s actions were not meant to safeguard the law; rather, the suit was used as an attack, based on the argument of the legal team at Ripple. This institution demanded information from other regulators who were working with Ripple; they also requested information from Ripple’s business partners.

"We will continue to work together to ensure that the U.S. has clear, fair, and workable crypto regulation. It’s a new dawn for crypto in the U.S.,” said the Chief Legal Officer of Ripple.

While this chapter is closed, the fight for clear, fair, and transparent crypto regulation continues. We'll keep fighting for the future of this industry.

The community is now expecting an XRP price surge, possibly leading to a new ATH, with this hurdle cleared.