"SEC Drops Coinbase Lawsuit: A Win for Crypto Industry"

The Securities and Exchange Commission (SEC) has dropped its lawsuit against Coinbase, marking a significant victory for the cryptocurrency industry. This development could have implications for other ongoing cases, including the one against Ripple.

Brian Armstrong, founder and CEO of Coinbase, announced the major win: the SEC is terminating its lawsuit against the exchange, which was filed in 2023. Armstrong stated, "Great news! After years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase. Once approved by the Commission (which we're told to expect next week) this would be a full dismissal, with $0 in fines paid and zero changes to our business."

Armstrong described the challenge of facing the SEC's "mafia tactics" under previous leadership. The dismissal of the lawsuit is a crucial victory not only for Coinbase but for the entire U.S. crypto industry, as the case could have severely restricted the operations of exchanges in the country.

The SEC has a similar lawsuit against Ripple. Both cases are based on the regulator's view that certain crypto assets are securities requiring stricter regulatory oversight. The conflict between the SEC and Coinbase arose because the regulator could demand the delisting of any token without clear classification criteria. In Ripple's case, the SEC prohibited the company from raising funds through XRP sales without registration. In both instances, the problem stemmed from the lack of clear standards for cryptocurrencies.

While the SEC has hinted at dropping charges against Coinbase, the situation with Ripple is more complex. Although the regulator removed the XRP lawsuit from its website, fully closing the case may require more significant regulatory changes. The Ripple case is particularly important for the market: the SEC considers the sale of XRP a violation of securities laws, which could affect many token projects. Nevertheless, the SEC is beginning to change its approach. Commissioner Peirce has announced plans to remove the securities status from some tokens, and the regulator generally intends to ease oversight of the crypto industry. This gives hope to the XRP community.

The court ruling had an immediate and significant impact on the XRP market. Following the decision, XRP’s market capitalization surged to over $149 billion, reflecting heightened investor confidence and bullish sentiment. The market’s reaction underscores the broader