2025-03-20
The U.S. Securities and Exchange
Commission (SEC) will no longer appeal its case against Ripple, according to
Ripple CEO Brad Garlinghouse.
He announced the news on March 19,
2025, in a post on X, calling it a major victory for Ripple and the crypto
industry.
In a video attached to the post,
Garlinghouse confirmed that the long-running legal battle with the SEC is
finally over. The SEC first sued Ripple in December 2020, accusing it of
selling $1.3 billion in unregistered securities.
Garlinghouse made the announcement
during the Digital Asset Summit in New York.
He said just before taking the stage
that the SEC had officially dropped its appeal, marking the end of the case. He
added that this moment closes an important chapter in crypto history and called
for the U.S. to become a leader in the crypto space.
The Ripple CEO expressed gratitude to
everyone who supported the company, including employees, legal teams,
customers, and the XRP community.
He also acknowledged the SEC’s new
leadership and the U.S. government for taking a more reasonable approach to
crypto regulation.
Garlinghouse believes Ripple’s victory
is a warning sign about how past SEC actions harmed crypto innovation in the
U.S.
Following the news, XRP’s 24 hours price
jumps 9%. As of now, XRP is the third-largest cryptocurrency, with a market
value of $146 billion.
The announcement also led to minor
gains across the broader crypto market.
