On July 31, Paul Atkins, the Chair of the Securities and Exchange Commission (SEC), unveiled the “Project Crypto.” It is an initiative to modernize the securities rules and regulations to allow for crypto-based trading in the United States’ financial markets.
Now that Project Crypto is favoring clearer guidelines and regulatory boundaries, crypto experts are hoping that the SEC will implement its words into action and resolve the long-standing Ripple case.
One of the key goals of Project Crypto is to enhance innovation in America with cryptocurrency. However, industry experts believe that the SEC is punishing innovation by delaying the Ripple case. Currently, the case has approached a critical point, and the agency is expected to submit a status report by August 15, 2025.
Ripple has already done its part by dropping its cross-appeal and paying $125 million in penalties in June, as part of the settlement strategy. Now, the case requires a vote from an SEC commissioner, which may force an appeal withdrawal.
If the agency ultimately decides to withdraw, Judge Torres’s ruling will become final, formally establishing that XRP is not a security when sold on public exchanges.
Chair Atkins stated, “We will not watch from the sidelines. We will lead. We will build. And, we will ensure that the next chapter of financial innovation is written right here in America.”
SEC Chair Paul Atkins unveiled Project Crypto to modernize rules for crypto trading, custody, and securities classification, prioritizing innovation.
Yes—if the SEC drops its appeal by August 15, Judge Torres’ ruling that XRP isn’t a security on exchanges could become final.
It may reduce state licensing burdens, allow flexible offerings, and provide clearer compliance paths for crypto securities and custody.
Solana (SOL) saw a massive jump in open interest during July, rising by over 370%,…
Cardano (ADA) is showing signs of weakness as its long/short ratio drops, signaling a surge…
With XRP struggling to hold key support and whales quietly loading up, all eyes are…
Ozak AI is catching serious attention as it pushes deeper into its 4th presale stage.…
Michael Saylor is doubling down on Bitcoin again. In a recent CNBC interview, he hinted…
Early investors in Shiba Inu and Pepe Coin saw life-changing returns. Now, ChatGPT and other…