Christopher Giancarlo, ex-chairman of the Commodity Futures Trading Commission (CFTC), has publicly expressed his vindication following Ripple’s significant legal triumph over the U.S. Securities and Exchange Commission (SEC). Known as “Crypto Dad” within the digital asset community, Giancarlo reaffirmed that his earlier views on the XRP Ledger have now been validated by legal precedent.
In 2020, before the SEC’s lawsuit against Ripple, Christopher Giancarlo co-authored a pivotal white paper with commodities attorney Conrad Bahlke. The paper presented a compelling argument: XRP should not be classified as a security. Instead, Giancarlo and Bahlke contended that XRP functions more like a currency, distinguishing it from the traditional securities framework under U.S. law.
Thanks, @s_alderoty. I did indeed call the #XRPLedger as I saw it and, what do you know, so does the law. Big chapeau to you and the @Ripple team. https://t.co/Ioyphng7jK
— Chris Giancarlo (@giancarloMKTS) March 19, 2025
Ripple vs. SEC: A Long and Hard-Fought Battle
The SEC’s lawsuit against Ripple accused the company of unlawfully offering XRP as an unregistered security. This legal battle became a landmark case for the cryptocurrency industry, drawing global attention and setting a precedent for digital asset regulation.
At the time, Giancarlo’s argument was met with skepticism. Many dismissed his assessment due to his firm’s advisory relationship with Ripple. Critics also pointed out that his findings relied heavily on company-provided data, questioning the impartiality of his conclusions. Despite these doubts, Ripple remained steadfast in its defense, arguing that XRP did not fall under the SEC’s jurisdiction.
SEC Withdraws Appeal, Marking a Turning Point
After years of legal wrangling, the SEC has withdrawn its appeal, marking the end of the high-profile case. This development secures Ripple’s legal victory and reinforces the argument that XRP should not be classified as a security.
With this resolution, the cryptocurrency industry sees a significant regulatory shift, potentially impacting how other digital assets are viewed under U.S. securities laws. The decision could provide a clearer path for blockchain projects seeking compliance with financial regulations.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Acknowledgment from Ripple’s Leadership
Stuart Alderoty, Ripple’s chief legal officer, publicly recognized Giancarlo’s unwavering support. Reflecting on the early days of the legal battle, Alderoty noted that while many hesitated to back Ripple, Giancarlo stood firm in his stance.
“Five years ago, while many were rooting against us, even those who stood by us chose to do so silently. You were smart and brave enough to call it as you saw it. Thank you,” Alderoty said.
Broader Implications for Crypto Regulation
Ripple’s legal victory holds far-reaching implications for the broader cryptocurrency sector. The case has underscored the need for clearer regulatory guidelines and has sparked discussions on how digital assets should be classified. With XRP’s status as a non-security now affirmed, other blockchain projects may find renewed confidence in pushing back against regulatory overreach.
As regulatory bodies worldwide continue to evaluate digital assets, Ripple’s victory could serve as a pivotal moment in shaping the legal landscape for cryptocurrencies.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
