Ripple process: SEC withdraws an appeal-a success for the entire crypto industry
- The XRP course rose $ 14% to $ 2.56 when it became known that the US stock exchange supervision SEC would withdraw its appeal against the judgment issued in July 2023 in the Sec./.ripple case.
- It can be assumed with certainty that this would not have happened without the change of management in the White House and in the regulatory authority – the parties would have fought out to the Supreme Federal Court.
XRP rose by 14 % to $ 2.56, whereby the trade activity increased by more than 125 %, shortly after Ripple CEO Brad Garlinghouse announced that the SEC withdraws its application for an appeal against the first instance judgment. Bitcoin also rose due to this message – to over $ 84,500.
Garlinghouse announced The end of the case in an X video, accompanied by the music of an orchestra. In his speech on the New York Digital Assets Summit, he addressed the long and hard legal dispute, which had dragged on for four years and three months.
“This is – the moment we have been waiting for. The SEC will drop your appointment – a resounding success for Ripple, for crypto, in every respect.
The future is secured. Let’s design them. “
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let’s build. pic.twitter.com/7WsD0C92Cm
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
“It was almost four years and three months ago that the SEC originally sued us, and that was a painful way in many ways. I really believed that we would be on the right side of the law and on the right side of the story.”
Ripple boss Garlinghouse: “No losses and no injured party”
The legal dispute between Ripple and the SEC began in December 2020 when the supervisory authority sued the company as an unregistered security due to the sale of XRP. Ripple defended himself, and in July 2023 a federal court made a judgment. The SEC, on the other hand, appealed, but has now decided, shortly before the deadline, to withdraw the application for appeal.
Garlinghouse described the regulatory system practiced as defective and accused the SEC to denounce the crypto in a unfair way. He argued with the lack of damaged and investor losses when he accused the authority of acting arbitrarily instead of with the best intention. He explained:
“There were no victims, there were no losses for investors. They just didn’t act in good faith.”
The case was the longest -lasting forced measure by the SEC against a crypto company. The decision of the supervisory authority to withdraw their application for appeal illustrates the major change in the policy of the SEC in relation to crypto regulation after the term of the term of President Trump on January 20.
Basic attitude of the SEC compared to the crypto industry is changing
Under the direction of former SEC chairman Gary Gensler, the authority took the crypto industry under a permanent fire on the grounds that most cryptocurrencies were actually unregistered securities. This led to complaints against the industry leaders Coinbase, Kraken and Gemini, whose general counter -argument was that no securities laws could be applied to digital assets that had not yet existed at the time when legislation was passed.
The crypto industry reacted to the wave of action by gathering behind crypto politicians before the 2024 elections. Industry representatives, including Tyler and Cameron Winklevoss by Gemini and Jesse Powell from Kraken, donated to Trump’s election campaign. In total, crypto companies are said to have put over $ 130 million in the support of crypto -affine candidates.
After Trump’s victory, the conservative SEC department head Mark Uyeda was appointed provisional chairman. Under its leadership, the SEC screwed back its compulsory measures, dissolved its aggressive enforcement department and formed a new working group to create regulatory guidelines under the direction of SEC department head Hester “Cypto Mom” Peirce.
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