SEC Officially Dismisses Lawsuit Against Kraken, Omits Ripple Case
The post SEC Officially Dismisses Lawsuit Against Kraken, Omits Ripple Case appeared on BitcoinEthereumNews.com.
After years of legal battles and mounting tension, the U.S. Securities and Exchange Commission (SEC) has officially decided to drop its appeal against Ripple. Ripple, which faced accusations from the SEC regarding its sale of XRP tokens, has now emerged victorious, as the judge ruled in favor of Ripple multiple times. The SEC’s decision to appeal earlier this year in January, even after the resignation of former chairman Gary Gensler, frustrated many, including Ripple. However, with the dismissal of the appeal, the legal uncertainty surrounding Ripple has now officially ended. Following the dismissal of the appeal, excitement surged in the crypto market, with XRP’s value experiencing a notable uptick. Despite this positive development for Ripple, enthusiasts are still awaiting a formal confirmation from the SEC. As of March 28, 2025, the SEC has officially announced the dismissal of litigation against several other companies, including Kraken, ConsenSys, and Cumberland, but has not yet made a statement on the Ripple case. According to Fox Business reporter Eleanor Terrett, the SEC’s current focus is on addressing the procedural requirements for lifting the standard injunction imposed by Judge Torres, which has delayed the official end to the case. No @Ripple here but I’m not entirely surprised because, again, it is slightly different to these other cases in that (as @s_alderoty mentioned in his post) the SEC now has to go to the Southern District and ask Judge Torres to lift the standard injunction. Once that is done, they… https://t.co/KVjCsR6l2V — Eleanor Terrett (@EleanorTerrett) March 27, 2025 Attorney Fred Rispoli said that with the recent announcements, the paperwork for lifting the injunction is already being prepared. A vote by the SEC Commission is expected in less than 30 days. Once that happens, Ripple will not oppose the motion to lift the injunction, and Judge Torres…
Filed under: News - @ March 28, 2025 4:15 am