Is the Ripple SEC Lawsuit Over? Pro-XRP Lawyer Says Not Yet
The Ripple vs. SEC Legal Battle: What Happens Next?
The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has been a hot topic in the crypto world for quite some time. In a surprising turn of events in April 2024, Ripple CEO Brad Garlinghouse announced that the SEC had agreed to drop the case, much like it had done with other crypto companies. However, despite this announcement, the SEC has not officially confirmed the end of the Ripple lawsuit, leaving many in the XRP community uncertain about the outcome.
A prominent pro-XRP lawyer cautioned that the case is not yet over and that there are still legal steps that need to be taken in court before the matter is truly resolved. Ripple’s Chief Legal Officer, Stuart Alderoty, questioned the SEC’s motives in initiating the case, pointing out that the SEC has dropped all crypto-related cases in the U.S., including its appeal against Ripple. Alderoty revealed that the SEC acknowledged its inability to take legal action without clear guidelines on crypto regulations, leading to the dismissal of its cases.
Moving forward, Ripple is focused on advancing its business, collaborating with Congress, and advocating for the establishment of fair regulations in the crypto industry. The company aims to protect consumers, combat illicit activities, and promote innovation within the sector.
In a recent development, Ripple announced that it will no longer release its regular quarterly reports on XRP. This decision was made in response to the SEC using Ripple’s transparency efforts against them during the legal battle. Initially, the reports were intended to provide insights into Ripple’s XRP holdings and share valuable information that was lacking among other crypto companies. However, Ripple discovered that these efforts backfired, particularly when former SEC officials used them to their disadvantage.
As the Ripple vs. SEC saga continues to unfold, the crypto community eagerly anticipates the resolution of this high-profile case and the implications it may have on the future of crypto regulations in the U.S. Stay tuned for further updates on this evolving legal dispute.
