Atkins: The SEC will focus on "clear" regulations for cryptocurrencies after the Ripple case
The end of the legal dispute, which has lasted nearly five years, will allow the agency to spend more time developing clear regulatory frameworks, according to the SEC chair
The U.S. Securities and Exchange Commission (SEC) is signaling that it is increasingly focusing on developing a clear regulatory framework for cryptocurrencies after ending one of the industry's longest legal battles.
The SEC and Ripple Labs ended their nearly five-year dispute after both parties filed a request to withdraw their legal appeals and assume their costs and fees, according to a filing made last Thursday in the Second Circuit Court of Appeals.
The conclusion of the case is a "positive development" that ensures that "minds that were previously occupied with litigation can now focus on creating a clear regulatory framework for cryptocurrencies," said SEC Commissioner Hester Peirce