Ripple CEO Brad Garlinghouse has confirmed that the U.S. Securities and Exchange Commission (SEC) will no longer pursue its appeal in the long-running legal battle over XRP. This marks a significant turn in the December 2020 lawsuit, which originally accused Ripple of selling XRP as an unregistered security.
In a statement posted on X, Garlinghouse hailed the SEC’s decision as a win for Ripple and the broader crypto industry, calling the case a failed attempt by the regulator to enforce crypto regulations through litigation. He described the lawsuit as “doomed from the start” and framed it as part of a broader government initiative to “pick winners” in the crypto space.
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let's build. pic.twitter.com/7WsD0C92Cm
— Brad Garlinghouse (@bgarlinghouse) March 19, 2025
Garlinghouse also pointed out that Ripple’s legal victory has set an important precedent, paving the way for more clarity in crypto regulation. Earlier, Ripple won a partial victory when a U.S. judge ruled that XRP was not a security in secondary market sales. However, the court still found that sales to institutional investors had violated securities laws.
While the SEC initially signaled its intention to appeal the ruling, it has now decided to drop the case entirely, according to Garlinghouse. The SEC has not yet made an official statement confirming the decision.
SEC’s Actions Harmed Investors, Says Garlinghouse
Garlinghouse did not hold back in criticizing the SEC’s approach under Chairman Gary Gensler, arguing that the regulatory body harmed investors rather than protecting them. He highlighted the $15 billion in market value lost when the SEC first filed the lawsuit, accusing the regulator of market manipulation.
This case has been widely followed within the crypto industry, with many viewing it as a key moment for the future of crypto regulation in the United States. Ripple’s victory could have broad implications on how the SEC and other regulators handle digital assets moving forward.
Garlinghouse emphasized that this outcome is a step toward making the U.S. a more favorable environment for crypto innovation, a sentiment that was shared by many in the industry.
The price of XRP spiked on the news, currently trading at $2.55.
For more updates on crypto regulatory news and developments, visit Crypto News and The Coin Info.
