The lawsuit by the U.S. Securities and Exchange Commission against Ripple related to the sale of XRP tokens has officially concluded. The SEC is shifting its direction.
Closure of the High-Profile Lawsuit
Prominent blockchain journalist Wu Blockchain reported the official closure of the lawsuit, where the SEC accused Ripple of illegally selling XRP tokens as unregistered securities, initiating a strict legal battle.
Support for a Policy-Oriented Approach
Hester Peirce stated on August 11, via a tweet, that the lawsuit's conclusion frees resources for developing regulatory guidelines for cryptocurrencies. She emphasized the need to move towards creating new regulations.
New SEC Strategy for Cryptocurrencies
Paul Atkins endorsed the idea that the SEC should redirect its efforts from courtrooms to legislative frameworks, focusing on creating conditions for innovations and safeguarding investor protection. Atkins also expressed support for the initiative '#ProjectCrypto' aimed at the agency's new strategy towards digital assets.
The closure of the lawsuit against Ripple and the SEC's shift towards building a clear regulatory framework for cryptocurrencies indicate the agency's commitment to a more structured and supportive approach in regulating digital assets.
