Former SEC Official Breaks Silence on Ripple Case as Appeal Gets Dropped
The post Former SEC Official Breaks Silence on Ripple Case as Appeal Gets Dropped appeared on BitcoinEthereumNews.com.
The U.S. Securities and Exchange Commission (SEC) case against Ripple has ended, marking the latest of several enforcement actions that have been abandoned. Ripple CEO Brad Garlinghouse revealed in a tweet Wednesday that the SEC has dropped the landmark crypto case. The SEC has dismissed or paused several other legal lawsuits and investigations targeting crypto companies, including those involving some of the industry’s most famous players. The present tally includes high-profile litigation against cryptocurrency exchanges Coinbase and Binance, which were sued on the same day in mid-2023, as well as threats of legal action against Robinhood, Uniswap and nonfungible-token marketplace OpenSea. Related The SEC’s 2020 case against Ripple was a watershed moment for the industry because it signaled a major escalation in the agency’s crypto enforcement actions. The SEC sued Ripple in December 2020, alleging it violated securities law when it raised money by selling XRP without registering it as a security. Former SEC official responds Since yesterday, when the news was announced, congratulatory messages have poured in for Ripple and the XRP community, including those from top profiles in the crypto space and reactions from various personalities. Related In reaction to the news of the dismissal, former SEC official Marc Fagel recently addressed the timeline for an official decision, providing insight into what could come next. 1/ We don’t know exactly what was communicated between the SEC staff & Ripple, or how close the staff is to getting commissioner approval. Typically, it could take weeks or months, but I assume they’re closer to that and it could be approved in the days (at most weeks) ahead, — Marc Fagel (@Marc_Fagel) March 20, 2025 An X user asked Fagel about the expected timeline for an official SEC vote on the matter. The question read: “Based on your knowledge and experience…
Filed under: News - @ March 22, 2025 3:23 am