The SEC Just Quietly Surrendered in Its Biggest Crypto Battle
The crypto world’s biggest and most consequential legal war is finally over. Ripple Labs, a fintech giant, has just closed the book on its nearly five-year battle with the U.S. Securities and Exchange Commission, ending a fight that had become a proxy for the future of cryptocurrency regulation in America.
The surprise settlement is being hailed as a landmark victory for the crypto industry and a significant blow to the SEC’s controversial “regulation by enforcement” strategy.
The “SEC announces joint stipulation to dismiss appeals, resolving civil enforcement action against Ripple and two of its executives,” the regulator said in a statement on July 7.
What Was the Fight About?
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