The US Securities and Trade Fee’s dismissal of its years-long lawsuit in opposition to Ripple Labs, the developer of the XRP Ledger blockchain community, is a “victory for the {industry},” Ripple CEO Brad Garlinghouse mentioned at Blockworks’ 2025 Digital Asset Summit in New York.
Earlier on March 19, Garlinghouse revealed that the SEC would dismiss its authorized motion in opposition to Ripple, ending 4 years of litigation in opposition to the blockchain developer for an alleged $1.3-billion unregistered securities providing in 2020.
“It appears like a victory for the {industry} and the start of a brand new chapter,” Garlinghouse mentioned on March 19 on the Summit, which was attended by Cointelegraph.
Ripple’s CEO mentioned the SEC is dropping its case in opposition to the blockchain developer. Supply: Brad Garlinghouse
Associated: SEC will drop its enchantment in opposition to Ripple, CEO Garlinghouse says
Main reversal
The dismissal is the newest — and arguably most vital — reversal by the SEC underneath US President Donald Trump.
The company beforehand dropped costs in opposition to different crypto companies, together with Coinbase, Kraken and Uniswap, for comparable alleged securities regulation violations.
Beneath former President Joe Biden, the SEC introduced upward of 100 enforcement actions in opposition to crypto companies, usually alleging failure to correctly register merchandise that former SEC Chair Gary Gensler mentioned fell underneath the securities regulators’ jurisdiction.
Trump has taken a friendlier stance towards the burgeoning {industry}, promising to make America the “world’s crypto capital” and appointing industry-friendly leaders to key regulatory posts.
“The brand new chapter began with the reset at each the Congress and the chief department […] when Trump got here in and nominated Paul Atkins, Scott Bessent, [and] introduced on David Sacks,” Garlinghouse mentioned.
Trump nominated Atkins and Bessent to move the SEC and Treasury Division, respectively. Sacks is Trump’s synthetic intelligence and “crypto czar,” a newly created White Home advisory function.
“I actually deeply believed that we have been going to be on the best aspect of the regulation and on the best aspect of historical past,” Garlinghouse mentioned of his firm’s protracted authorized struggle with US regulators, including that, in his view, the SEC was “simply […] attempting to bully” the crypto {industry}.
Now that regulatory headwinds have subsided, Ripple is specializing in enlargement, Garlinghouse added.
“Ripple has invested over $2 billion in investments and acquisitions throughout the crypto panorama, and a few of these don’t have anything to do with XRP as a result of if crypto does nicely, I basically consider Ripple will do nicely,” he mentioned.
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