A Long-Awaited Win for Ripple and Crypto<\/h2>\n
Garlinghouse announced the news in a video posted on his X account, stating, “I’m finally able to announce that this case has ended. It’s over. Today is a victory and a long-overdue surrender from the SEC.”<\/p>\n
The lawsuit, which began in December 2020, accused Ripple of raising $1.3 billion through unregistered XRP sales.<\/p>\n
However, after years of litigation, Ripple secured a crucial legal win in August 2024 when a federal New York judge ruled that XRP\u2019s “programmatic sales” on secondary markets did not constitute securities transactions.<\/p>\n
While the court upheld a $125 million penalty for institutional sales, this amount was significantly lower than the SEC\u2019s initial demand of nearly $2 billion.<\/p>\n
SEC\u2019s Shift in Stance<\/h2>\n
Although the SEC has yet to make a formal announcement, sources indicate that the decision to drop the appeal is subject to an internal Commission vote and approval.<\/p>\n
A Ripple spokesperson noted that the official withdrawal of the case could take “several weeks” and remains under the SEC\u2019s control.<\/p>\n
The legal battle had been closely watched, as a victory for the SEC could have had far-reaching consequences for the classification of cryptocurrencies as securities versus commodities.<\/p>\n
However, the regulatory landscape shifted significantly following the 2024 U.S. elections and the subsequent departure of former SEC Chair Gary Gensler<\/a>.<\/p>\n Under the leadership of Acting Chair Mark Uyeda, the agency has taken a less aggressive stance toward the crypto industry, dropping enforcement actions against major exchanges such as Coinbase and Kraken.<\/p>\n Ripple\u2019s Chief Legal Officer, Stuart Alderoty, emphasized the importance of this victory, stating, “With the SEC dropping its appeal, Ripple is now in the driver\u2019s seat, and we\u2019ll evaluate how best to pursue our cross-appeal. Regardless, today is a day to celebrate this victory.”<\/p>\n The ruling also strengthens Ripple\u2019s position within the cryptocurrency space, reinforcing the legitimacy of digital assets and setting a legal precedent that could influence future regulatory frameworks.<\/p>\n Reports suggest that the SEC\u2019s new leadership may even consider classifying XRP as a commodity rather than a security, which could redefine digital asset regulations in the U.S.<\/p>\n Following the announcement, XRP surged by over 8.37%<\/a>, reaching a high of $2.5073, according to Bitrue data. The token has already gained more than 200% in recent months, solidifying its status as one of the best-performing digital assets.<\/p>\n The news of the SEC\u2019s withdrawal has also sparked excitement across the crypto community, with industry experts viewing it as a crucial step toward clearer and more favorable regulations for blockchain innovations.<\/p>\n With the renewed optimism surrounding XRP, crypto investors have sought ways to maximize their holdings. One notable opportunity is Bitrue\u2019s XRP staking pool<\/a>, which offers attractive annual percentage yields (APY) for XRP holders.<\/p>\n 1. 14-day staking period with 5% APY for existing users.<\/p>\n 2. 3-day staking period with 20% APY for new users.<\/p>\n 3. XRP investment in Power Piggy, providing a baseline rate of 1.2% APR, which can be boosted up to 1.4% for BTR holders, with no lockup period and daily interest payouts.<\/p>\n 4. XRP can be used as collateral in Bitrue\u2019s Loans service, providing additional flexibility for investors.<\/p>\n 5. XRP purchases are available through various payment options, including USD, GBP, and Euros.<\/p>\n 6. Futures trading with XRP paired against USDT for those interested in leveraged trading.<\/p>\n Bitrue\u2019s staking pool provides an excellent way for XRP investors to earn passive income while benefiting from the token\u2019s bullish momentum.<\/p>\nRipple\u2019s Legal Standing Strengthened<\/h2>\n
XRP Price Surge and Market Reaction<\/h2>\n
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Bitrue\u2019s XRP Staking Pool Offers High Returns<\/h2>\n
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Conclusion: A New Era for Crypto Regulation<\/h2>\n