Ripple vs. SEC Lawsuit “in Final Stages”

According to a recent report by Eleanor Terrett, host of Crypto In America, the U.S. Securities and Exchange Commission (SEC) is wrapping up its case against Ripple. The price of XRP increased by 3.5% following this news, according to data from CoinGecko. Terrett reports that the case has not yet been dismissed, as Ripple’s legal team is working on negotiating more favorable terms.

In August 2024, District Judge Analisa Torres imposed a fine of $125 million on Ripple and prohibited the company from selling XRP to institutional parties as part of her final ruling. The SEC then appealed Torres’ earlier 2023 decision, in which she ruled that Ripple’s XRP sales to private investors were not unregistered securities. Ripple responded with a counter-appeal.

Since the departure of former SEC Chairman Gary Gensler, however, the agency has significantly rolled back its approach to cryptocurrency enforcement. For instance, the SEC dropped cases against giants like Coinbase and Kraken without sanctions, and ended extensive investigations into Uniswap Labs and Robinhood Crypto. Ripple now seems to argue that it should not be penalized either, pointing to the SEC’s apparent uncertainty about any violations by the company.

This shift, however, also raises questions about the consistency of the SEC’s strategy. As negotiations continue, the crypto market is closely watching the outcome. We will, of course, keep you updated on this.