Ripple’s legal officer highlighted SEC Chair Atkins' shift from past enforcement-heavy crypto policy.
The SEC’s review of XRP-inclusive crypto funds suggests growing institutional acceptance of the asset class.
Policy changes and collaboration efforts are driving expectations of a resolution in the Ripple case.
Ripple’s Chief Legal Officer, Stuart Alderoty, publicly praised current SEC Chair Atkins for distancing the agency from its prior hardline stance against digital assets. Alderoty credited the new approach for addressing past regulatory overreach that had reportedly driven crypto innovation outside the United States. His remarks followed the SEC’s announcement of “Project Crypto,” a new effort to modernize securities regulations for blockchain-based finance.
The SEC recently initiated Project Crypto, a policy effort that seeks to redefine how securities rules apply to digital assets. The initiative involves close coordination with Commissioner Hester Peirce’s Crypto Task Force. It aims to provide clearer guidance on token classification and on-chain finance. The project marks a notable shift, with SEC leadership now affirming that most crypto tokens are not securities.
Policy Update Renews XRP Lawsuit Speculation
This change in regulatory tone has led to renewed speculation regarding the SEC’s ongoing legal battle with Ripple. Legal experts have noted the possibility that the agency might drop its appeal against the company. Former SEC attorney Marc Fagel indicated that both Ripple and the SEC could file to dismiss their respective appeals ahead of the August 15 status report deadline. No official filings have been made yet, but the XRP community remains alert.
The SEC is currently reviewing major digital asset funds that hold XRP, including Grayscale’s GDLC Fund and the Bitwise Crypto Index Fund. Both are being considered for broader market approval. The Commission has requested public input by August 22. This review is seen as a step toward the potential approval of spot XRP ETFs, which could significantly enhance XRP’s market accessibility.
Wider Policy Shifts Suggest New Crypto Framework
The recent approval of in-kind redemptions for Bitcoin and Ethereum ETFs signals the SEC’s willingness to modernize its regulatory framework. These changes, along with a newly released 166-page federal report under the Trump administration, emphasize a policy trend focused on supporting blockchain innovation within the United States.
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