Bitnomial drops lawsuit against SEC for XRP futures launch in the US

From Coin Telegraph
March 20, 2025 12:59:26 am:

Crypto exchange Bitnomial has voluntarily dismissed its lawsuit against the US Securities and Exchange Commission to launch Ripple XRP futures in the US, regulated by the CFTC. The exchange filed a self-certification with the CFTC to list XRP futures, but the SEC blocked the move, resulting in a lawsuit. Ripple CEO Brad Garlinghouse announced the SEC dropped an appeal against a ruling labeling XRP as not a security for retail sales in March 2024.

Bitnomial’s XRP futures launch follows a July 13, 2023 judgment deeming XRP not a security for retail sales, but one for institutional investors, sparking an appeal from the SEC. The agency initially sued Ripple Labs in December 2020, accusing the firm of selling an unregistered security. The SEC has been easing its hardline stance on crypto under the Trump administration.

The SEC’s acting chair, Mark Uyeda, plans to scrap a rule proposed under the Biden administration to tighten crypto custody standards for investment advisers. Uyeda also seeks to abandon proposed changes that would expand regulation of alternative trading systems to include crypto firms, requiring them to register as exchanges.

Read more at Cointelegraph: Bitnomial drops SEC lawsuit ahead of XRP futures launch in the US