From Cointelegraph: 2024-06-22 16:30:00

The U.S. Securities and Exchange Commission has dropped its case against Ether. This decision was made following a five-year legal battle to determine whether the cryptocurrency should be classified as a security. However, the SEC is still pursuing a case against Ripple, demanding billions in penalties from the company.

In a significant development for the crypto industry, the SEC’s decision regarding Ether provides clarity on the regulatory status of certain digital assets. This move is expected to have a ripple effect on the wider cryptocurrency market, influencing how other tokens are viewed and regulated by authorities moving forward.

The SEC’s ongoing case against Ripple centers on allegations that the company conducted an unregistered securities offering through the sale of its XRP token. The outcome of this case could set a precedent for how other cryptocurrencies are scrutinized and regulated in the future, shaping the legal landscape for the entire industry.

The SEC’s aggressive stance on Ripple highlights the regulator’s commitment to enforcing compliance within the cryptocurrency sector. With billions in penalties at stake, this case serves as a stark reminder to other companies in the industry about the consequences of failing to adhere to regulatory guidelines and requirements.

Read more at Cointelegraph: SEC drops Ether probe but still seeks billions in penalties from Ripple: Hodler’s Digest, June 16-22