SEC Drops Another Case, And it’s Not Ripple Lawsuit
The SEC abandoned another case, this time for Cumberland’s global leader, offering access to deep crypto liquidity 24/7. This was the decision of the Securities and Exchange Commission (SEC) on the previous day to decide on the case against Kraken Exchange. Cumberland announced today that it has signed a joint document with the U.S. Securities and Exchange Commission (SEC) to dismiss the case against them.
“Today, we signed a joint filing with the Securities and Exchange Commission (SEC) to dismiss the case against Cumberland DRW. The document was approved in principle on February 20 between Cumberland DRW and SEC staff and is currently seeking approval from the committee,” the company wrote.
Cumberland expressed its commitment to integrity and transparency, highlighting its ongoing dialogue with the SEC. The company looks forward to helping shape the future where technological advancements and clear regulations work together, ensuring the United States is at the forefront of global financial innovation.
Chain litigation continues:
The crypto community is now eagerly awaiting the results of the ongoing ripple effect. Although the SEC recently dismissed cases against several cryptocurrency companies, including Coinbase, Robinhood, Uniswap and Gemini, the lawsuit against Ripple Labs remains unresolved. Additionally, President Donald Trump’s recently announced designation XRP is Ripple’s Aboriginal token as part of the U.S. government’s strategic cryptocurrency reserve, which raises expectations for a favorable solution.
Ripple’s legal team has requested a cross-appeal on the April 16, 2025 deadline. This date is important because it may affect the case moving forward. Experts believe the case can be resolved by this date, but no official update has been provided. The crypto community is closely following the regulatory status of XRP to be clearer.
