#XRPETFs
Ripple's difficult relationship with the SEC has improved
The launch of XRP-related ETFs in the U.S. would be considered a huge triumph for Ripple, the company behind XRP. Ripple has been in trouble with the SEC for years. However, that has changed since Trump took office and his candidate, Paul Atkins, became the president of the SEC.
Trump, who took a pro-cryptocurrency stance during his second term, and Atkins, a cryptocurrency advocate and former SEC commissioner, have taken a very different approach from their predecessors. At a roundtable organized by the SEC's Cryptocurrency Working Group on Friday, Atkins stated:
“The market itself seems to indicate that the current framework urgently requires attention.”
Atkins added that innovation in cryptocurrencies “has been stifled over the past few years” due to the SEC's approach under former chairman Gary Gensler.
In 2020, the SEC sued Ripple, alleging that it violated securities laws by selling XRP, which the agency considered an unregistered security.
In July 2023, Ripple won a partial victory when the judge ruled that XRP is not considered a security when sold on secondary markets like exchanges. However, institutional sales of XRP constituted unregistered securities; the judge imposed a fine of $125 million, but the SEC appealed the decision.
On March 19, Ripple's CEO, Brad Garlinghouse, announced that the SEC had agreed to withdraw the appeal, subject to the vote and approval of the Commission. Garlinghouse stated that the historic case "has concluded. It's over," calling the moment a "historic victory."
On April 10, Ripple and the SEC jointly filed a motion to pause the proceedings of the lawsuit to discuss the terms of the settlement.
The resolution of the SEC's lawsuit against Ripple will have broader implications in the cryptocurrency market, as it would set a precedent for
