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The crypto exchange Bitnomial left his case against the US Securities and Stock Exchange Commission (SEC) before the release of XRP Futures.
According to March 19 expression XRP term transactions of the Crypto Exchange shared in X are organized by the Commodity Term Trade Commission (CFTC) and will be available for existing users as of today.
Bitnom Drops SEC Case, referring to regulatory clarity
Bitnomial’s decision came after SEC’s application for appeal in the fluctuation case
In August, Bitnomial gave CFTC with CFTC to list the XRP futures contracts on the stock exchange. However, the SEC movement has blocked the Movement and told Bitnomial that he should register as a stock exchange before listing futures products on his platform.
Bitnomial filed a lawsuit against SEC and five commission members on October 10th. XRP is a security.
This thought that there was no security for retail sales in the Judge Analisa Torres’s XRP decision on July 13, 2023. However, he said there was a security when sold to institutions because he met the conditions set in the Howy test.
SEC gave up the appeal against the judge Torres decision
In the case of retail sales, SEC did not agree with the Judge Torres in the XRP classification and then applied for appeal. However, in the last 24 hours, the SEC has chosen to maintain this appeal.
Fluctuation Laboratory CEO Brad Garlinghouse shared the development in an X Post yesterday.
“He will quit his charm – for Ripple, for the crypto, the way you look at him.”
This is the moment we expect. For Ripple, for the crypto, for the crypto, in every way you look at.
The future is bright. Let’s do it. pic.twitter.com/7wsd0c92cm
– Brad Garlinghouse (@bgarlinghouse) 19 March 2025
Following the news, the XRP price has risen over 7% in the last 24 hours and is traded at $ 2.44 as 1:45 AM. CoinMarketcap data.
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