Crypto news

SEC Officially Drops Ripple Lawsuit

After five years of legal wrangling, the U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple.

After five years of legal wrangling, the U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple. Ripple CEO Brad Garlinghouse announced the news, calling it a major victory for Ripple and the cryptocurrency industry.

The case began in 2020 and has been ongoing over XRP’s status as a security. Garlinghouse announced in a post on social media X:

This is the moment we’ve been waiting for. The SEC has dropped its case. This is a resounding victory for Ripple and the entire crypto industry. The future is bright, let’s build!

This news has excited many people in the crypto world. Some see it as a sign. Crypto rules may become clearer in the U.S. XRP’s price quickly jumped 7% after the announcement. This shows how important the case was for XRP. Many are watching what happens next. The end of the lawsuit may change things for Ripple. It may also affect the whole crypto market.