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Ripple Whales Move 430M XRP As Brad Garlinghouse Confirms Crypto Policy Shift

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5 days ago

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Large XRP transactions have sparked discussions in the crypto community as Ripple whales moved 430 million XRP within hours. Meanwhile, Ripple CEO Brad Garlinghouse has expressed optimism about a shift in U.S. crypto regulations, hinting at a new crypto policy approach.

Ripple Whales Transfer Over 430 Million XRP

Blockchain tracking service Whale Alert has reported a series of large XRP transfers, totaling over 430 million XRP. The transactions included 300 million XRP transferred from Ripple to an unknown wallet, followed by another 90 million XRP moved between unidentified wallets. Additionally, 40.8 million XRP were transferred from Coincheck to an unknown address.

These movements have drawn attention, as whale transactions often indicate strategic shifts by major holders.

While the purpose of these Ripple whale transfers remains unclear, large transactions can impact market liquidity and investor sentiment. The timing of these transfers coincides with renewed discussions on regulatory developments surrounding Ripple and XRP.

Brad Garlinghouse Optimistic on Crypto Policy Changes

Ripple CEO Brad Garlinghouse shared his perspective on recent legislative efforts in Washington, D.C. He noted that there is a growing bipartisan push for clearer regulatory frameworks for cryptocurrencies.

“There is finally an incredible opportunity to advance meaningful bipartisan legislation,” Garlinghouse stated, highlighting meetings with lawmakers including Senator Tim Scott and Representatives Ritchie Torres, William Timmons, and French Hill.

Brad Garlinghouse has previously criticized the lack of regulatory clarity in the U.S., arguing that it has driven crypto innovation overseas. His latest remarks suggest that policymakers may be shifting towards a more constructive stance on digital assets. This follows the Securities and Exchange Commission’s (SEC) acknowledgment of a 19b-4 filing related to a potential XRP exchange-traded fund (ETF).

Ripple SEC Lawsuit Settlement Speculation Grows

A U.S. federal judge has paused the SEC’s lawsuit against Binance for 60 days after both parties requested time to assess regulatory developments. This move has fueled speculation about the possibility of a Ripple-SEC settlement, as per ETF store president Nate Geraci as crypto regulatory agencies appear to be re-evaluating their approach to crypto-related lawsuits.

The pause in the Binance case comes as the SEC faces increasing pressure over its stance on digital assets.

The decision to acknowledge XRP-related ETF filings further suggests a potential shift in how the agency handles crypto-related regulations. Market analysts believe this could lead to a resolution in the ongoing legal battle between Ripple and the SEC.

XRP Price Targets $8 Amid Market Optimism

Amid Ripple whale moves, XRP’s price has remained relatively stable despite the large transactions, with traders closely watching developments.

Analysts suggest that if regulatory clarity improves and an XRP ETF is approved, the asset could enter a new price discovery phase.

Some market watchers predict a potential XRP price rally to $8, which would mark a new all-time high for XRP. Community sentiment remains optimistic, with many XRP holders expressing confidence in the cryptocurrency’s long-term potential.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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US SEC To Pause Ripple Lawsuit After Coinbase, Ex-SEC John Reed Stark

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2 hours ago

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February 19, 2025

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The U.S. Securities and Exchange Commission (SEC) is expected to pause its Ripple lawsuit following similar actions in its cases against Coinbase and Binance. The regulatory agency has recently requested delays in both cases, signaling a shift in its crypto enforcement approach.

Will US SEC Pause Ripple Lawsuit Next?

According to an X post by former SEC official John Reed Stark, the agency may soon put its Ripple lawsuit on hold. Stark highlighted the SEC’s recent decisions to delay legal proceedings against Coinbase and Binance, suggesting that these moves indicate a broader change in enforcement strategy.

On Friday, the SEC informed the Second Circuit Court that its new Crypto Task Force could lead to a resolution in its case against Coinbase. This prompted a request for a delay in responding to Coinbase’s appeal regarding whether securities laws apply to transactions on its platform. A similar joint motion was filed in the Binance case last week, requesting a two-month pause in proceedings.

Stark emphasized that the SEC’s approach to crypto enforcement is changing, stating that the agency’s crypto-related unit has been rebranded from the “Crypto Assets and Cyber Unit” to the “Cyber and Emerging Technologies Unit.” This restructuring suggests a potential slowdown or even a halt in SEC-led crypto investigations and litigation.

SEC Crypto Cases Facing Pauses and Settlements

The SEC has faced multiple legal challenges in its enforcement actions against major crypto firms, including Ripple, Coinbase, and Binance. However, recent developments indicate that the agency may be shifting away from aggressive litigation ahead of Paul Atkins taking charge of the agency.

In the Coinbase case, the SEC and Coinbase jointly requested a delay in court proceedings, citing ongoing regulatory discussions. A similar request was made in the Binance case, where both parties agreed that a temporary pause was necessary while the SEC reevaluates its stance on digital assets.

Stark suggested that these delays could lead to broader settlements or dismissals of crypto-related cases. He noted that the SEC’s approach under previous leadership focused on strict enforcement, but the recent changes signal a different direction. He also pointed out that key SEC trial lawyers previously leading these cases have been reassigned, further supporting the idea that the agency is stepping back from its earlier stance.

Ripple Lawsuit Likely to Follow the Same Pattern

With the SEC pausing its cases against Coinbase and Binance, legal experts believe that the Ripple lawsuit could face a similar fate. Attorney Jeremy Hogan has recently commented on the matter, stating that the SEC may settle its case against Ripple before approving an XRP exchange-traded fund (ETF).

He suggested that a settlement was likely before any ETF approval, reinforcing speculation that the SEC is reconsidering its legal battles with crypto firms. Moreover, with the chances of an XRP ETF approval rising to 80% polymarket and the agency acknowledging three applications so far, the Ripple lawsuit end may be looming.

The lawsuit between the SEC and Ripple has been a long-running legal dispute over whether XRP should be classified as a security. A partial court ruling in 2023 determined that XRP was not a security in certain transactions, but the SEC has continued to challenge this decision. If the SEC follows the same pattern as in the Coinbase and Binance cases, and the Elon Musk DOGE investigation on the agency continues, a pause or settlement in the Ripple lawsuit may soon follow.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Crypto Taxation Takes Effect in Nigeria: New Regulations Explained

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14 hours ago

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February 18, 2025

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In an effort to intensify regulations over the digital asset market, the Nigerian government is introducing crypto taxation. Nigeria’s Securities and Exchange Commission (SEC) is spearheading a major regulatory reform aimed at incorporating cryptocurrency transactions into the country’s tax framework.

Notably, Nigeria plans to impose taxes on cryptocurrency transactions as a strategy to increase national revenue. Thus, by strengthening oversight of the crypto market, the country aims to generate additional revenue streams.

Nigeria Unveils Crypto Taxation: Details Undisclosed

According to a Bloomberg report, Nigeria is planning to impose tax on crypto transactions in a bid to boost national revenue. The Securities and Exchange Commission (SEC) is reportedly developing a comprehensive regulatory framework to ensure “eligible [crypto] transactions on regulated exchanges are brought into the formal tax net.”

Nigeria has proposed a bill regarding crypto taxation which is currently under legislative review. The proposed bill is expected to be passed in the first quarter of 2025. Though the SEC has highlighted the significance of crypto taxation, they haven’t unveiled further details.

SEC Prioritizes Crypto Taxation and Licensing

Initially, Nigeria took an oppressive stance on the crypto market, restricting financial institutions from offering services to crypto firms. Citing concerns over increasing threats, the Central Bank of Nigeria imposed ban on crypto banking and other related activities. However, the government lifted the ban later in December 2023.

Currently, the government is fostering the Nigerian crypto market’s growth, recognizing its potential. The country’s plans for crypto taxation is a significant step towards regulating the digital asset space. As Nigeria’s crypto adoption flourishes despite regulatory constraints, the government is focusing on preserving its competitive edge while ensuring a secure environment for investors.

In a recent development, Nigeria’s SEC established a licensing regime necessitating crypto startups to obtain virtual asset service provider (VASP) licenses to operate in the country.  The SEC stated, “We anticipate gradual traction toward centralized exchanges because they will provide greater protections and comfort for investors.”

Meanwhile, the US SEC is exhibiting a more advanced approach to the crypto industry. This is evidenced by the regulator’s recent acknowledgment of altcoin exchange-traded funds(ETFs).

US Crypto Regulations: A Global Trendsetter

Nigeria’s crypto taxation and regulation follow the United States’ growing emphasis on crypto oversight. Under President Donald Trump, the US SEC is implementing crypto-friendly regulations, fostering industry expansion. Commissioner Hester Peirce recently asserted that the agency is considering overhauling regulations to move away from the former enforcement-focused approach.

Recently, prominent figures including Eric Trump advocated for zero capital gains tax for US-based crypto projects. As Donald Trump sees cryptocurrencies as a national priority, the community anticipates the government to adopt a zero tax policy for crypto. However, experts believe such a move is highly unlikely as concerns surrounding the tax revenue system remain a major obstacle.

The crypto community is eagerly awaiting the US government’s stance on crypto taxation. Meanwhile, the same uncertainty surrounds Nigeria’s crypto taxation plans. As Nigeria’s crypto taxation details are still under wraps, it’s unclear whether the country will mirror the US’s approach once it’s revealed.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Elon Musk’s DOGE Launches Probe into US SEC, Ripple Lawsuit To End?

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2 days ago

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February 17, 2025

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A new initiative linked to Dogecoin (DOGE) has launched an investigation into the U.S. Securities and Exchange Commission (SEC). The newly created @DOGE_SEC account on X aims to identify and address allegations of waste, fraud, and abuse within the regulatory agency.

This development has drawn attention from the cryptocurrency community, especially as the SEC’s lawsuit against Ripple nears its conclusion.

Elon Musk’s DOGE Launches Investigation into US SEC

The DOGE_SEC account has called on the public to provide information regarding the SEC’s actions. “DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud, and abuse,” the account posted.

This move has sparked discussions among legal and financial experts. Coinbase Chief Legal Officer Paul Grewal responded by suggesting a rule that would require the SEC to cover legal fees for defendants who successfully challenge the agency’s lawsuits. Other members of the cryptocurrency community have also voiced concerns about the SEC’s handling of certain cases, particularly its litigation against Ripple.

The SEC’s lawsuit against Ripple, which began in 2020, is additionally reaching its final stages. Ripple’s Chief Legal Officer, Stuart Alderoty, responded to the ongoing scrutiny of the SEC by stating, “I have the receipts,” implying that key documents related to the case may soon be revealed.

This Is A Developing News, Please Check Back For More

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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