Legal & Regulatory Landscape - SEC and Ripple jointly requested to dismiss their appeals, ending a four-year legal battle that began in December 2020 [1] - The SEC had accused Ripple of conducting an unregistered securities offering through XRP sales [1] - In July 2023, a judge ruled that XRP sales on public exchanges were not securities, but institutional sales violated securities laws [2] - Ripple was fined $125 million, significantly less than the $2 billion sought by the SEC [2] - The ruling enabled XRP to return to major exchanges, removing SEC oversight from secondary sales [2] - The SEC's decision to withdraw its appeal follows multiple case dismissals under President Trump's second term, which has seen a rollback of "regulation by enforcement" in crypto [3] Business Strategy & Market Focus - Ripple will focus on expanding its business in global markets [3] - Programmatic sales of XRP are now legal, and XRP itself is not a security [3]

Regulatory Landscape - SEC exempts liquid stakers like Ethereum's Lido and Solana's Jito from securities laws [1]

Regulatory Landscape - SEC (美国证券交易委员会) 最新指南声明流动性质押不在证券法范围内 [1] - 该声明是在“Project Crypto”倡议之后发布的 [1]

Putting digital versions of stocks on a blockchain doesn’t mean companies can skirt US securities laws, SEC Chair Hester Peirce said https://t.co/wkOMpEJgP4 ...