{"id":124933,"date":"2025-03-12T19:15:35","date_gmt":"2025-03-12T19:15:35","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=124933"},"modified":"2025-03-12T19:15:35","modified_gmt":"2025-03-12T19:15:35","slug":"secs-enforcement-case-against-ripple-may-be-wrapping-up","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=124933","title":{"rendered":"SEC\u2019s enforcement case against Ripple may be wrapping up"},"content":{"rendered":"

Source: Cointelegraph.com NewsThe US Securities and Exchange Commission may be preparing to end its enforcement action against Ripple Labs after more than four years.
\nAccording to a March 12 X post from Fox Business reporter Eleanor Terrett, the SEC\u2019s case against Ripple was \u201cin the process of wrapping up\u201d after the parties filed an appeal and cross-appeal, respectively, over a $125-million court judgment in August 2024. The civil case against the blockchain firm filed in December 2020 alleged Ripple and certain executives used XRP (XRP) as an unregistered security to raise funds.
\nRipple chief legal officer Stuart Alderoty told Cointelegraph on March 11 that the SEC civil case was \u201cfar more advanced\u201d than many of the others the regulator had dropped following the inauguration of US President Donald Trump and the departure of Chair Gary Gensler. Since January, the SEC has announced it will not pursue enforcement cases against Coinbase, Consensys, Kraken and others.
\n\u201cWe do have a judgment, we are on appeal \u2014 that presents some additional complexity,\u201d said Alderoty in regard to the case potentially being dropped. \u201cBut we remain optimistic that we\u2019ll get to a resolution with the SEC, and if we don\u2019t, we\u2019ll proceed with the appeal.\u201d\u00a0
\nAccording to the Ripple CLO, there were several possible outcomes to ending the SEC case if both parties were in agreement that it should wind down. If Ripple and the SEC agreed independently to drop their appeal and cross-appeal in the Second Circuit, then the $125-million judgment in the lower court would stand. If there were a dispute over the monetary judgment, then the blockchain firm and the commission would have to go \u201chand-in-hand\u201d to request any modification from a judge.\u00a0
\nRelated: Why is the Ripple SEC case still ongoing amid a sea of resolutions?
\nThe SEC v. Ripple case involved one of the first significant court rulings favoring the crypto industry when Judge Analisa Torres said the XRP token was not a security under the regulator\u2019s purview \u2014 but only in regard to programmatic sales on exchanges. At the time of publication, no filing suggesting the SEC intended to drop the case appeared on the docket for the US District Court for the Southern District of New York or the US Court of Appeals for the Second Circuit.\u00a0
\nChange of tone at SEC under Trump
\nThough the SEC filed the Ripple case under Trump\u2019s former chair, Jay Clayton, the commission stepped up the number of enforcement actions following Gensler\u2019s confirmation in 2021.
\nRipple CEO Brad Garlinghouse said in an interview aired in December 2024 that the firm may not have gotten as involved in US politics if the commission had been led by someone other than Gensler. Under Garlinghouse, Ripple contributed $45 million to the political action committee Fairshake for the previous election cycle and donated another $25 million in November 2024.\u00a0
\nRipple pledged $5 million in XRP to Trump\u2019s inauguration fund following his election victory, and both Garlinghouse and Alderoty attended Washington, DC events on Jan. 20 as official guests. The chief legal officer personally donated more than $300,000 to fundraising and political action committees supporting the US president.
\nThe correlation between political contributions to Trump and Republicans and the SEC dropping enforcement actions has many critics pointing to potential conflicts of interest in the administration. Coinbase, another major Fairshake backer that donated $1 million to Trump\u2019s inauguration, had its SEC civil case halted in February. Its CEO, Brian Armstrong, also attended a March 7 crypto summit at the White House, along with Garlinghouse and others.\u00a0
\nAlderoty suggested that the SEC dropping cases was \u201cindependent\u201d of any political donations and more reflective of Acting Chair Mark Uyeda\u2019s perspective on the industry and related regulations.
\nAt the time of publication, the US Senate has not scheduled a hearing to consider the nomination of the potential next head of the commission, Paul Atkins. Commissioner Hester Peirce said in February that the SEC would be more likely to wait on setting a crypto regulatory agenda after a new chair took office.
\nMagazine: SEC\u2019s U-turn on crypto leaves key questions unansweredRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsThe US Securities and Exchange Commission may be preparing to end its enforcement action against Ripple Labs after more than four years. According to a March 12 X… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124933"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124933"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124933\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124933"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}