Crypto Industry Celebrates SEC's Shift: Drops Lawsuits, Urges Ripple Resolution

The crypto industry has been abuzz with recent developments, particularly the SEC's decision to drop several high-profile lawsuits against prominent figures and platforms in the space. This move has sparked optimism among community members, including XRP lawyer John Deaton, who has called for a swift resolution to the ongoing Ripple vs. SEC case.

In a recent X post, Deaton urged key SEC officials, including Hester Peirce and Mark Udeya, along with crypto experts David Sacks and Bo Hines, to help dismiss the Ripple case. Deaton, representing 75,000 XRP holders, asked, "When Ripple?" This plea comes on the heels of the SEC's decision to drop lawsuits against Hex founder Richard Heart and other major players like Coinbase, Robinhood, and Uniswap.

While the crypto community celebrates these victories, former SEC official John Reed Stark has raised concerns about the agency's recent actions. He warns that these moves could signal trouble and potentially even the SEC's downfall. Despite these warnings, the crypto industry has scored significant wins under the Trump administration, with the SEC dropping or closing several cases and pausing others.

The SEC's new approach under Acting Chair Mark Uyeda appears to be focused on creating clear policies to guide future enforcement, rather than relying on enforcement actions to set the rules. This shift is evident in the SEC's recent moves, including the formation of a new crypto task force led by Commissioner Hester Peirce and the withdrawal of unpopular accounting rules like Staff Accounting Bulletin 121.

As the crypto industry continues to grow and evolve, the need for clear regulation becomes increasingly important. The SEC's recent actions suggest a willingness to engage with the public and create policies that will help shape the future of the crypto landscape. However, the outcome of ongoing investigations and cases will ultimately determine the direction of crypto regulation in the United States.