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Crypto

Ripple\'s David Schwartz says SEC trying to rewrite history, reviving dispute over XRP non-security ruling

Ripple Chief Technology Officer David Schwartz challenged the view that the U.S. Securities and Exchange Commission only took issue with how Ripple sold XRP during the lawsuit. He called it an attempt to \"rewrite history\" and said the regulator advanced broader arguments that XRP holders expected profits based on Ripple\'s efforts, including for exchange-traded XRP. The debate resurfaced on the third anniversary of a 2023 ruling that XRP itself is not a security, while some institutional sales violated securities laws.

Crypto

U.S. court ruling that XRP itself is not a security marks 3rd anniversary

Three years have passed since a U.S. court said XRP itself cannot be uniformly treated as a security. The ruling distinguished between programmatic sales on public exchanges and direct sales to institutional investors, shaping the broader direction of U.S. crypto regulation. The court found exchange trading did not meet key elements of the Howey test, while judging about $728 million of direct institutional sales as unregistered securities offerings. Ripple executives have said the lawsuit pressured the company’s survival.

Crypto

U.S. SEC commissioner predicts Clarity Act passage this summer as crypto regulation may accelerate

U.S. Securities and Exchange Commission Commissioner Hester Peirce predicted that the Clarity Act, aimed at establishing a crypto regulatory framework, could pass this summer. The bill has cleared the House and awaits Senate action. Peirce said it would create federal oversight for the crypto spot market and divide authority between the SEC and the CFTC. SEC Chair Paul Atkins also signaled a pro-market reform agenda and a shift toward supporting digital-asset innovation under U.S. law.