Ripple CEO Reacts to SEC’s Decision to Dismiss Coinbase Case
Coinbase CEO Brian Armstrong claimed in an X post yesterday that his company had reached an agreement with the U.S. Securities and Exchange Commission to remove regulatory legal lawsuits against the exchange. Armstrong’s post has sparked excitement from the crypto community. Ripple CEO Brad Garlinghouse responded enthusiastically to the post. He noted that the SEC is moving rapidly from past flaw policy frameworks. Let’s dig into more details!
SEC removes cases against Coinbase without penalty
It was in 2023 that the US SEC initially launched a legal lawsuit against Coinbase. U.S. regulators say Coinbase violates the law by providing investment without a proper registration.
Armstrong said in the Post that the SEC has agreed to dismiss the legal action against Coinbase. The CEO of Coinbase specifically noted that the settlement does not require the exchange to pay any fines or make any changes to how it works.
Interestingly, the SEC has not issued a public statement on the development.
Brand Garlinghouse reacts to SEC’s decision
Brand Garlinghouse, one of the leaders in the cryptocurrency business, stepped up and expressed excitement for the development.
Garlinghouse sees this as a sincere effort to get rid of the oppressive regulatory policy framework of the previous regime.
Can the ripple be followed? Analyst weight
Attorney Jeremy Hogan predicts that the SEC may take some major steps in the near future.
It is worth noting that former SEC official John Reed Stark predicts that the SEC lawsuit against Ripple may be withdrawn soon.
Hogan also supports Stark’s predictions.
The SEC recently submitted a summary of the opening ceremony to Ripple in legal proceedings. Crypto companies must submit their cross-insert summary by April 16.
