Ripple’s CEO Brad Garlinghouse announced in a video that the Securities and Exchange Commission (SEC) has dropped its four-year lawsuit against the company. The SEC had accused Ripple of raising $1.3 billion through an unregistered securities offering. In 2023, a federal judge ruled that XRP wasn’t a security when sold to retail investors but was when sold to institutions. However, the agency appealed that decision.
The SEC has now backed down, according to Garlinghouse. This move comes as the agency is also dropping cases and investigations into several other crypto companies, including Coinbase, Uniswap, Robinhood, OpenSea, Kraken, and Consensys. These developments suggest the newly formed crypto task force is working on a more comprehensive regulatory framework for the industry.
Separately, the U.S. Treasury has removed Tornado Cash, a crypto privacy tool, from its sanctions list. This decision marks a major reversal in one of the most controversial enforcement actions during the Biden era. Although addresses associated with Tornado Cash have been scrubbed from the list, the administration remains concerned about North Korea’s hacking and money laundering campaign.
Coinbase is reportedly in advanced talks to acquire Deribit, leading US crypto exchange, according to Bloomberg. This deal could mark Coinbase’s most aggressive move into the booming crypto derivatives market, which has long been dominated by offshore players.
Other developments include a $1.5 billion deal between Kraken and another company for its futures trading business, as reported by The Wall Street Journal, and a US SEC holding a crypto task force roundtable ahead of President Trump’s planned regulatory revamp, according to Reuters.
Source: https://www.forbes.com/sites/digital-assets/2025/03/25/sec-vs-ripple-lawsuit-dropped