SEC’s Surprise Move: Drops Kraken Case, Silent on Ripple 🤔

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In the grand tapestry of legal dramas, the U.S. Securities and Exchange Commission (SEC) has finally waved the white flag, retreating from its prolonged skirmish with Ripple, the cryptocurrency titan. The SEC’s war drums have fallen silent, the echoes of their accusations over XRP token sales now a mere whisper against the triumphant fanfare of Ripple’s victory. 🎉

Oh, the irony! The SEC, once so adamant, now resembles a cat that’s caught its own tail. After former chairman Gary Gensler took his leave, the SEC’s appeal in January seemed less a strategic move and more a comedy of errors. But lo and behold, the appeal has been dismissed, and Ripple stands unscathed, as if protected by the invisible cloak of judicial favor. 🧙‍♂️

With the SEC’s retreat, the crypto market has erupted in a joyous frenzy, sending XRP’s value skyward. It’s a spectacle of digital coins dancing merrily in their blockchains. Yet, the crypto enthusiasts, ever so cautious, await the SEC’s official blessing with bated breath. 🎈

As the calendar pages turn to March 28, 2025, the SEC has indeed brought glad tidings, dismissing litigation against a host of companies. Kraken, ConsenSys, and Cumberland can all breathe a sigh of relief, but the SEC’s silence on Ripple? It speaks volumes in the language of bureaucratic mystery. 🤫

No @Ripple here but I’m not entirely surprised because, again, it is slightly different to these other cases in that (as @s_alderoty mentioned in his post) the SEC now has to go to the Southern District and ask Judge Torres to lift the standard injunction. Once that is done, they…

— Eleanor Terrett (@EleanorTerrett) March 27, 2025

In the hallowed halls of justice, Attorney Fred Rispoli assures us that the gears of bureaucracy are turning. The paperwork to lift the injunction is being meticulously prepared, as if it were a gourmet dish awaiting the final sprinkle of herbs. The SEC Commission is poised for a vote, and within a month’s time, Ripple may find itself free from the shackles of legal strife. Judge Torres, with a flourish of her pen, could seal this saga within 60 days. ✍️🏛️

And so, we, the denizens of the crypto realm, sit upon the edge of our seats, our eyes fixed upon the SEC’s every move. For in this game of legal chess, the final checkmate is yet to be declared. 🎮👑

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2025-03-28 07:08