Michaela
The Ripple case against the U.S. Securities and Exchange Commission (SEC) has moved closer to a resolution, a development that could influence the regulatory landscape for digital assets.
According to crypto journalist Eleanor Terrett, two sources familiar with the matter have indicated that the case is nearing its conclusion and could be resolved soon.
In a March 12 X post, Terrett stated that the delay in reaching a resolution stems from Ripple Lab’s legal team seeking adjustments to the August 2024 district court ruling, which imposed a $125 million fine on the company and enforced a permanent injunction barring the sale of XRP to institutional investors.
The August court ruling was seen as a partial victory for Ripple as the fine imposed on the company was significantly lower than the nearly $2 billion the SEC had initially sought. The decision also included a permanent injunction preventing Ripple from selling XRP to institutional investors.
In October 2024, the SEC appealed Judge Analisa Torres’ ruling, continuing the high-profile legal battle. Ripple CEO Brad Garlinghouse openly criticized the agency’s move, arguing that the appeal undermined the SEC’s credibility and raised further concerns about its approach to regulating digital assets.
“The argument, I’m told, is that if the new SEC leadership is wiping the enforcement slate clean for all previously-targeted crypto firms because it believes regulatory clarity will resolve the underlying issue, why should Ripple still be penalized?” Terrett wrote. “Accepting the Torres ruling as it stands would mean that Ripple is essentially agreeing to admit to wrongdoing — but now the SEC itself is seemingly unsure whether any wrongdoing occurred,” she added.
A resolution in the Ripple case would be a win for the company, but broader issues in crypto regulation remain unsettled. While some firms have seen enforcement actions dropped, others continue to face legal battles, emphasizing the industry’s uncertainty.
If the SEC shifts away from aggressive lawsuits, it could signal a more measured approach. However, without clear regulations, crypto firms remain in limbo. The question now is whether lawmakers will step in to provide clarity or leave the industry facing ongoing uncertainty.
Read More
- Ripple ‘Pushed’ for Solana’s Inclusion in Crypto Reserve – Reports
- SEC Appeals Ripple Ruling, Seeks XRP Classified as Unregistered Security
- SEC Drops Lawsuit Against Coinbase, Issues Joint Stipulation Agreement
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
