Victorious against the SEC, Ripple actively targets US expansion, seizing a friendlier regulatory environment despite stiff market competition.
Ripple now plans to expand operations within the United States after concluding its legal dispute with the Securities and Exchange Commission (SEC).
CEO Brad Garlinghouse indicates that while 95% of Ripple’s current customer base is international, the company prioritizes growth in the American market.
Ripple Prioritizes U.S. Expansion Following SEC Legal Victory
The SEC’s dismissal of its lawsuit enables this renewed U.S. focus, marking a significant development for Ripple and the broader cryptocurrency sector.
The SEC initiated legal action against Ripple in December 2020, alleging that its XRP token was an unregistered security offering.
This case concluded with the SEC dropping its lawsuit, returning a $75 million fine, and withdrawing its appeal.
This outcome allows Ripple to sell XRP to institutional investors in the U.S. without regulatory restrictions.
Evolving U.S. Regulatory Climate Supports Ripple’s Growth Ambitions
Garlinghouse described the resolution as “the moment we’ve been waiting for,” highlighting the company’s relief.
Throughout the U.S. legal proceedings, Ripple continued its payment and securities service operations. Garlinghouse emphasizes the U.S. market’s continued strategic importance for Ripple.
With the SEC lawsuit resolved, Ripple aims to increase its U.S. customer base and lessen reliance on international markets for revenue and growth.
Ripple’s expansion efforts coincide with a potentially more favorable political and regulatory environment for cryptocurrencies in the U.S.
Competition and Regulatory Navigation Remain Key for U.S. Market Entry
President Donald Trump’s potential second term could bring policies more supportive of digital assets.
Trump recently established a Crypto Advisory Council, and reports indicate Brad Garlinghouse is in discussions to become a member.
This political context strengthens Ripple’s U.S. ambitions. Further support comes from the Office of the Comptroller of the Currency (OCC).
The OCC revised its guidelines to permit U.S. banks and savings associations to provide custody services for cryptocurrencies and stablecoins without prior approval.
This policy adjustment signals a shift from earlier regulatory concerns, notably regarding “Operation Choke Point 2.0,” which faced criticism for its perceived aggressive approach to cryptocurrency businesses.
Also Read: Ripple Uses XRP Profits to Fund Space Station Project
