Crypto exchange Bitnomial has voluntarily dismissed its lawsuit against the U.S. Securities and Exchange Commission (SEC) as it prepares to launch the first-ever CFTC-regulated XRP futures contract in the U.S. The Chicago-based exchange cited improvements in regulatory clarity as a reason for moving forward with its XRP futures, allowing traders to speculate on or hedge against XRP's future price starting today. This decision follows Ripple's progress in its legal battle regarding XRP's classification as a security, where CEO Brad Garlinghouse noted that the SEC has decided against pursuing an appeal in its lawsuit against Ripple. Bitnomial's original suit was filed in October 2024 after the SEC blocked its attempt to offer XRP futures, arguing that XRP should be classified as a security. This development is significant as Ripple faces regulatory scrutiny, particularly since the SEC initiated its case against the company in December 2020, contending that Ripple's sale of XRP constituted an unregistered securities offering. The legal landscape is shifting, impacting how digital assets are classified in the U.S.

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