The United States Securities and Exchange Commission (SEC) is ending its multi-year enforcement action against Ripple, as confirmed by the company’s CEO, Brad Garlinghouse. This marks the conclusion of a long legal battle that began in December 2020 when the SEC sued Ripple over an alleged $1.3 billion unregistered securities offering.

Garlinghouse Announces End of SEC Case

Garlinghouse shared the news on X on March 19, expressing his relief and stating: “This is it — the moment we’ve been waiting for. The SEC will drop its appeal — a resounding victory for Ripple, for crypto, every way you look at it.”

In a video attached to his post, Garlinghouse further announced: “I’m finally able to announce that the case has ended; it’s over.”

Reflecting on the significance of the outcome, Garlinghouse said, “We’re now closing a chapter in crypto history,” and emphasized the need for the US to become a global leader in the crypto space, adding: “It’s time to make the United States the crypto capital of the world.”

Ripple’s Moves: Cross-Border Payments, New Partnerships, and Regulatory Developments

Ripple has been a prominent topic recently, with several developments drawing attention. Michael Saylor, Executive Chairman of Strategy, recently spoke about cryptocurrencies’ potential role in US strategic reserves, following an executive order by President Trump listing Bitcoin, Ethereum, XRP, Solana, and Cardano. In an interview with Fox Business, Saylor addressed digital asset regulation and suggested that XRP should be issued under a regulatory framework.

Ripple gained further attention when CEO Garlinghouse and CLO Alderoty met with President-elect Trump on January 6, which fueled speculation about the SEC’s ongoing lawsuit against the company, filed in December 2020, alleging that Ripple sold XRP as unregistered securities.

Ripple has also expanded its partnerships, including with Revolut and Zero Hash to broaden RLUSD access, competing with USDT and USDC. In Portugal, Ripple is collaborating with Unicâmbio to enable instant payments between Portugal and Brazil using digital assets.

In South Korea, BDACS will use Ripple Custody to secure XRP and RLUSD, a stablecoin pegged to the dollar, providing secure storage for institutional clients. Additionally, Ripple donated $100,000 in XRP to support California wildfire victims, assisting organizations like World Central Kitchen and GiveDirectly through The Giving Block.

Ripple expects Japanese banks to adopt XRP Ledger by 2025 to improve cross-border payments. In the DeFi space, Ripple is working with Chainlink to integrate RLUSD into Ethereum-based trading and lending applications.

Investor interest in XRP remains high, with whales acquiring 520 million tokens during a recent dip. Meanwhile, the SEC’s reassignment of Jorge Tenreiro has raised questions about its future stance on crypto litigation.

This article was written by Tareq Sikder at www.financemagnates.com.TrendingRead More

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