The agency previously dropped charges against other crypto firms, including Coinbase, Kraken and Uniswap, for similar alleged securities law violations. Under former President Joe Biden, the SEC brought upward of 100 enforcement actions against crypto firms, typically alleging failure to properly register products that former SEC Chair Gary Gensler said fell under the securities regulators’ jurisdiction. Trump has taken a friendlier stance toward the burgeoning industry, promising to make America the “world’s crypto capital” and appointing industry-friendly leaders to key regulatory posts. “The new chapter started with the reset at both the Congress and the executive branch […] when Trump came in and nominated Paul Atkins, Scott Bessent, [and] brought on David Sacks,” Garlinghouse said. Trump nominated Atkins and Bessent to head the SEC and Treasury Department, respectively.
Earlier on March 19, Garlinghouse revealed that the SEC would dismiss its legal action against Ripple, ending four years of litigation against the blockchain developer for an alleged $1.3-billion unregistered securities offering in 2020.“It feels like a victory for the industry and the beginning of a new chapter,” Garlinghouse said on March 19 at the Summit, which was attended by Cointelegraph. Ripple’s CEO said the SEC is dropping its case against the blockchain developer.
The US Securities and Exchange Commission’s dismissal of its years-long lawsuit against Ripple Labs, the developer of the XRP Ledger blockchain network, is a “victory for the industry,” Ripple CEO Brad Garlinghouse said at Blockworks’ 2025 Digital Asset Summit in New York.
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Author / Journalist: Cointelegraph by Alex O’Donnell
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