- Ripple’s four-year legal battle with the SEC could be over soon. An upcoming closed meeting, scheduled for 6 March, may signal an eventual dismissal or settlement.
- Recent SEC moves to end investigations of companies such as Coinbase and Uniswap has fueled hope that the XRP case may be close to its conclusion.
Mark Uyeda is the current SEC Chair. He has a more relaxed approach to crypto regulation than the former SEC Chairman Gary Gensler. As of now, the SEC has taken a softer stance on crypto than it did under former Chair Gary Gensler. dismissed several lawsuitsIncluding cases against Uniswap Coinbase Kraken OpenSea Robinhood Crypto and Gemini.
The long-running XRP vs. SEC litigation, considered one of most important legal battles for the cryptocurrency industry in recent years, is expected to finally settle or be dismissed with a meeting that has been scheduled on March 6, 2025. SEC and Ripple held a secret meeting on February 27, but it is not known what the agenda was.
In December 2020, the SEC filed a lawsuit against Ripple for selling XRP without registering it as a security. Analisa Torres, a judge in 2023, issued a groundbreaking decision, ruling that XRP is not a financial instrument. It was a significant blow to the SEC, since it undermined the SEC’s core argument. Ripple faces a critical deadline, which is April 16, 2025. Ripple’s response to SEC appeal must be submitted by this date. If the SEC withdraws its appeal before that date, then the case could be dismissed.
According to the SEC’s noticeThe meeting, which will take place in the near future, will include several important topics. These include the institution and resolution of injunctive action, administrative proceedings and the resolution of claims.
Crypto Regulation: A turning point?
This closed-door meeting takes place on the day of the White House Crypto Summit in 2025, March 7. White House AI Czar David Sacks organized the event. The president will host it. Ripple CEO Brad Garlinghouse has been confirmed to attend this summit. Discussions on cryptocurrency regulation and policy will take centre stage. The announcement follows that of the president’s recent announcement About the Creation of a National Crypto Reserve, XRP is included, as well as Cardano (ADA), Ethereum(ETH), Bitcoin(BTC) and Solana.
The SEC is now officially acknowledging spot XRP application from major asset management companies, such as CoinShares Canary Capital WisdomTree Bitwise 21Shares Grayscale and Canary Capital. Additionally, a CNF report previously highlighted Brazil’s Securities Commission approved Hashdex to launch the first spot XRP exchange-traded fund (ETF) in Brazil, although it has not yet begun trading.
XRP prices have soared 7.90% In the past 24 hours, 10.46% Analysts have been filled with optimism over the last week. Many think that XRP would experience a strong rally if SEC dropped its lawsuit, possibly reaching $3.20.
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Source: www.crypto-news-flash.com
