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SEC VS RIPPLE: XRP LAWSUIT WRAPPING UP AS NEGOTIATIONS REACH FINAL STAGE—REPORT
Ripple’s high-stakes legal battle with the SEC may soon end, as negotiations reportedly center on vacating a key ruling that imposed a $125 million fine.
SEC vs. Ripple Nears Settlement? Report Suggests a Resolution Is Closer Than Eve
The U.S. Securities and Exchange Commission (SEC) case against Ripple regarding the sale of XRP could be nearing its conclusion, according to recent reports. The lawsuit, which has lasted over multiple years, has been a major point of contention in the cryptocurrency industry.
Fox Business journalist Eleanor Terrett reported on social media platform X on March 12 that two sources indicated the case is in the process of wrapping up and may soon reach a resolution.
“Two well-placed sources tell me that the SEC vs. Ripple case is in the process of wrapping up and could be over soon,” she shared, adding:
My understanding is that the delay in reaching an agreement is due to Ripple’s legal team negotiating more favorable terms regarding the August district court ruling, which imposed a $125M fine on the company and included a permanent injunction preventing the company from selling XRP to institutional investors.
“The argument, I’m told, is that if the new SEC leadership is wiping the enforcement slate clean for all previously-targeted crypto firms because it believes regulatory clarity will resolve the underlying issue, why should Ripple still be penalized?” she explained.
“Accepting the Torres ruling as it stands would mean that Ripple is essentially agreeing to admit to wrongdoing — but now the SEC itself is seemingly unsure whether any wrongdoing occurred.”
Terrett noted that Ripple’s argument revolves around the SEC’s shifting stance on cryptocurrency regulation. With new leadership at the agency reportedly reconsidering enforcement actions against crypto firms, Ripple contends that it should not be penalized for alleged past violations.
Since there is no precedent for this kind of legal situation, the case may be taking longer to resolve than other crypto-related enforcement actions.
Earlier this month, lawyer James Murphy, known as Metalawman on X, similarly speculated that the delay may stem from Ripple’s efforts to negotiate vacating Judge Torres’ decision rather than the SEC. While the ruling largely favored XRP holders, he noted that findings of securities law violations and an injunction could hinder Ripple’s future plans, such as an exempt securities offering or an IPO. Murphy suggested the SEC might have agreed to a settlement involving both parties dropping their appeals and Ripple paying a $125 million fine, but Ripple may be seeking better terms.
The SEC sued Ripple in December 2020, alleging it conducted an unregistered securities offering by selling XRP. The case has since become a pivotal legal battle in U.S. cryptocurrency regulation. However, the agency itself is undergoing substantial changes, with many crypto-related enforcement cases, such as those against Coinbase, Kraken, and Robinhood, being dropped.
The regulator’s stance on crypto appears to be shifting following the departure of former SEC Chair Gary Gensler. Under the new leadership, the SEC has established a task force to reassess its approach to crypto regulation. This shift may have influenced the negotiations between Ripple and the SEC as they work toward a resolution.
@ Newshounds News™
Source: Bitcoin News
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TEXAS DOUBLES DOWN ON CRYPTO WITH NEW $250 MILLION BITCOIN RESERVE BILL
Texas’ second crypto bill seeks to enhance state and local government participation in digital asset investments.
Texas has introduced a second crypto reserve bill, marking another significant step toward integrating Bitcoin into its financial framework.
According to a document released on March 11, the proposed legislation, HB 4258, seeks to allocate up to $250 million from the state’s economic stabilization fund for Bitcoin and other digital assets.
This marks the second attempt by the state to establish a digital asset reserve, following the earlier SB 778, which recently secured bipartisan support in the Senate.
Unlike the previous proposal, HB 4258 explicitly caps investment and extends participation to municipalities and counties, allowing them to allocate up to $10 million to digital assets. If approved and signed into law, the bill would take effect on Sept. 1, 2025.
Texas’ push for a Bitcoin reserve aligns with broader trends across the US, where 21 states are exploring similar frameworks at different legislative stages. Some states have active proposals, while others are still conducting evaluations.
President of the Texas Blockchain Council, Lee Bratcher, highlighted the state’s strategic position for Bitcoin adoption. He pointed to the Texas Triangle—Houston (energy), Austin (tech), and Dallas (capital markets)—as a convergence of industries that makes Bitcoin integration particularly viable.
Texas’ first Bitcoin bill
As previously stated, SB 778 focuses on integrating crypto into the state’s financial system by enabling tax payments and donations in digital assets.
It also seeks to impose a five-year restriction on selling state-owned Bitcoin. With Senate approval secured, the bill awaits a decision in the Texas House, expected by May 24.
Meanwhile, support for the initiative has been strong, with Texas Lieutenant Governor Dan Patrick calling the establishment of a Bitcoin reserve a strategic move that could set an example for other states.
He emphasized Bitcoin’s decentralized nature and finite supply, describing it as a valuable asset for Texas’ financial future. Patrick added:
“President Trump has stated unequivocally that he intends to make the United States the cryptocurrency capital of the world. His visionary leadership on Bitcoin and digital assets has paved the way for rapid American innovation, and Texas is leading the way.”
@ Newshounds News™
Source: CryptoSlate
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