Ripple faced several challenges in its fight with the SEC but managed to not only survive but also change the rules of the crypto industry in the U.S.
Proactive Engagement with Regulators
Lauren Belive, Ripple's Global Co-Head of Policy, emphasized the importance of engaging early and often with regulators around the world. She believes crypto companies cannot afford to sit on the sidelines and must actively participate in dialogue with lawmakers. This will help shape rules that protect users and foster innovation.
Ripple's Legal Battle with the SEC
Ripple's conflict with the SEC began in December 2020 when the company was accused of selling unregistered securities through XRP. Under Gary Gensler's leadership, the SEC intensified its pressure on Ripple; however, the company continued to defend itself, insisting on the need for clear and fair rules for the entire industry.
Ripple's Political Strategy and Its Impact
Belive shared that Ripple actively participated in the political process by investing time and resources in educating lawmakers. The company supported both parties and engaged during campaign seasons, helping to form the most pro-crypto Congress the U.S. has ever seen. Ripple is now working with Congress to build a fair regulatory framework that encourages growth while ensuring investor protections.
Ripple demonstrated how active participation in political life and engagement with regulators can reshape the landscape of the crypto industry in the U.S., setting new standards for all market participants.
