Ripple’s Triumph: SEC Throws in the Towel! 🎉💰

by

“`html

<a href="https://inrusdinr.in/xrp-usd/">Ripple</a>‘s Triumph: SEC Throws in the Towel! 🎉💰

Well, well, well! In a twist that would make even the most seasoned poker player raise an eyebrow, Ripple Labs’ chief, Brad Garlinghouse, has announced that the US Securities and Exchange Commission (SEC) has decided to pack up its bags and head home, officially dropping its case against the blockchain payments company. Talk about a historic win! 🏆

SEC Drops Case Against Ripple

In a video that lasted about as long as a sneeze, Garlinghouse proclaimed, “I’m finally able to announce, this case has ended, it’s over.” He went on to say that the SEC’s case, which was born under the watchful eye of former Chair Gary Gensler, was as doomed as a cat in a room full of rocking chairs. Garlinghouse called this moment a “long overdue surrender” by the SEC, and who could argue with that? 😏

Garlinghouse didn’t hold back, taking a jab at Gensler, who resigned on January 20, the same day President Donald Trump took office. Seems like Gensler had a knack for making enemies in the cryptocurrency world! 🥴

According to Garlinghouse, the SEC under Gensler was like a schoolyard bully, trying to intimidate the entire industry with threats and bluster, using arguments that were as flimsy as a paper umbrella in a rainstorm.

Now, let’s not forget the SEC’s grand accusation: that Ripple and its executives had raised over $1.3 billion through an unregistered ongoing securities offering involving the sale of XRP. They claimed Ripple had been selling XRP since 2013 without so much as a “by your leave,” thus violating federal securities laws. Oh, the drama! 🎭

Major Asset Managers Eye XRP ETF Approval

With the dust settling, Garlinghouse confidently declared that XRP is no longer seen as a security under the Howey Test. This is a critical legal standard that determines whether certain transactions qualify as investment contracts. It’s like getting a gold star in the world of finance! 🌟

This newfound clarity is not just a feather in Ripple’s cap; it’s also a green light for major asset managers who are itching to get their XRP exchange-traded funds (ETFs) approved. Talk about a win-win! 🤑

As the SEC, now under the acting chair Mark Uyeda, seems to have had a change of heart, aligning more with the current administration’s focus on innovation in the digital asset space, one can’t help but chuckle at the irony. 😄

In the wake of this news, XRP’s price shot up nearly 12%, bouncing back above the $2.4 mark after a dismal dip to $1.7 during February’s market sell-off. It’s a rollercoaster ride, folks! 🎢

“`

Read More

2025-03-19 16:58