{"id":125410,"date":"2025-03-19T18:21:12","date_gmt":"2025-03-19T18:21:12","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125410"},"modified":"2025-03-19T18:21:12","modified_gmt":"2025-03-19T18:21:12","slug":"secs-xrp-reversal-a-victory-for-the-industry-ripple-ceo","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125410","title":{"rendered":"SEC\u2019s XRP reversal a \u2018victory for the industry\u2019: Ripple CEO"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Securities and Exchange Commission\u2019s dismissal of its years-long lawsuit against Ripple Labs, the developer of the XRP Ledger blockchain network, is a \u201cvictory for the industry,\u201d Ripple CEO Brad Garlinghouse said at Blockworks\u2019 2025 Digital Asset Summit in New York.<br \/>\nEarlier on March 19, Garlinghouse revealed that the SEC would dismiss its legal action against Ripple, ending four years of litigation against the blockchain developer for an alleged $1.3-billion unregistered securities offering in 2020.<br \/>\n\u201cIt feels like a victory for the industry and the beginning of a new chapter,\u201d Garlinghouse said on March 19 at the Summit, which was attended by Cointelegraph.\u00a0<br \/>\nRipple\u2019s CEO said the SEC is dropping its case against the blockchain developer. Source: Brad GarlinghouseRelated: SEC will drop its appeal against Ripple, CEO Garlinghouse says<br \/>\nMajor reversal<br \/>\nThe dismissal is the latest \u2014 and arguably most significant \u2014 reversal by the SEC under US President Donald Trump.<br \/>\nThe agency previously dropped charges against other crypto firms, including Coinbase, Kraken and Uniswap, for similar alleged securities law violations.\u00a0<br \/>\nUnder former President Joe Biden, the SEC brought upward of 100 enforcement actions against crypto firms, typically alleging failure to properly register products that former SEC Chair Gary Gensler said fell under the securities regulators\u2019 jurisdiction.\u00a0<br \/>\nTrump has taken a friendlier stance toward the burgeoning industry, promising to make America the \u201cworld\u2019s crypto capital\u201d and appointing industry-friendly leaders to key regulatory posts.\u00a0<br \/>\n\u201cThe new chapter started with the reset at both the Congress and the executive branch  when Trump came in and nominated Paul Atkins, Scott Bessent, [and] brought on David Sacks,\u201d Garlinghouse said.\u00a0<br \/>\nTrump nominated Atkins and Bessent to head the SEC and Treasury Department, respectively. Sacks is Trump\u2019s artificial intelligence and \u201ccrypto czar,\u201d a newly created White House advisory role.\u00a0<br \/>\n\u201cI really deeply believed that we were going to be on the right side of the law and on the right side of history,\u201d Garlinghouse said of his company\u2019s protracted legal fight with US regulators, adding that, in his view, the SEC was \u201cjust  trying to bully\u201d the crypto industry.\u00a0<br \/>\nNow that regulatory headwinds have subsided, Ripple is focusing on expansion, Garlinghouse added.\u00a0<br \/>\n\u201cRipple has invested over $2 billion in investments and acquisitions across the crypto landscape, and some of those have nothing to do with XRP because if crypto does well, I fundamentally believe Ripple will do well,\u201d he said.\u00a0<br \/>\nMagazine: Classic Sega, Atari and Nintendo games get crypto makeovers: Web3 Gamer<a href=\"https:\/\/cointelegraph.com\/news\/sec-ripple-reversal-win-entire-industry-ceo?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Securities and Exchange Commission\u2019s dismissal of its years-long lawsuit against Ripple Labs, the developer of the XRP Ledger blockchain network, is a \u201cvictory for the industry,\u201d&hellip; <\/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\/125410"}],"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=125410"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125410\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125410"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}