Ripple CEO Brad Garlinghouse has declared the company’s long-running legal showdown with the U.S. Securities and Exchange Commission (SEC) officially concluded. In a video posted on his X account, Garlinghouse announced that Ripple’s regulatory ordeal, which has spanned over four years, has now ended.
Speaking directly to his followers, Garlinghouse stated confidently, “I’m finally able to announce that this case has ended. It’s over.” The announcement followed Ripple’s courtroom victory in 2023 when a judge ruled that XRP sales to retail investors were not securities offerings.
Although the SEC filed an appeal in an attempt to overturn the decision, Garlinghouse indicated that the regulator would no longer pursue further action.
While the SEC has yet to release a formal statement confirming its withdrawal, Garlinghouse’s remarks were enough to spark market excitement. XRP’s price surged by over 12%, reaching $2.51 shortly after his announcement.
SEC vs Ripple Case Explained
The legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) began in December 2020 when the SEC filed a lawsuit alleging that Ripple had conducted an unregistered securities offering by selling XRP tokens worth over $1.3 billion. The regulator argued that XRP should be classified as a security and, therefore, subject to strict securities laws, much like traditional stocks or bonds.
Ripple strongly contested the claims, maintaining that XRP is a digital currency and not a security, similar to Bitcoin and Ethereum. The case quickly became one of the most closely watched legal disputes in the crypto industry, as its outcome would have broader implications for the classification and regulation of cryptocurrencies in the U.S.
Key Developments in the Case:
- Initial Lawsuit (2020): The SEC filed charges against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen, alleging the illegal sale of XRP without proper registration.
- Partial Win for Ripple (July 2023): In a landmark ruling, U.S. District Judge Analisa Torres ruled that Ripple’s sales of XRP to retail investors on public exchanges did not constitute securities transactions. However, the judge did agree with the SEC’s argument regarding Ripple’s institutional sales, stating those did meet the criteria for securities offerings.
- SEC Appeal Filed (2023): After the partial ruling in Ripple’s favor, the SEC filed an appeal seeking to overturn the decision related to retail sales.
- Ripple CEO’s Announcement (March 2025): Brad Garlinghouse recently announced that the SEC has dropped its appeal efforts, effectively marking the end of the legal case. While the SEC has yet to issue its own confirmation, Garlinghouse’s comments signal a final resolution.
Ripple’s Focus Shifts to Global Expansion
With the SEC lawsuit no longer casting a shadow over operations, Ripple is setting its sights on international growth. Garlinghouse emphasized the company’s renewed focus on expanding services across jurisdictions with stronger regulatory clarity. Recent efforts include obtaining regulatory approvals in the Middle East and expanding partnerships throughout Europe and Asia.
Ripple’s legal win is also celebrated across the crypto community, as it is widely viewed as a precedent-setting case that could influence how U.S. regulators approach other digital assets.
Quick Facts:
- Ripple CEO Brad Garlinghouse confirmed that the SEC lawsuit has concluded, with no further appeals expected.
- A U.S. court had previously ruled XRP sales to retail investors were not securities offerings.
- XRP surged by over 12% to $2.51 following Garlinghouse’s announcement.
- Ripple plans to focus on global expansion, particularly in regions with clear crypto regulations.
