In today's crypto news, the U.S. Securities and Exchange Commission (SEC) has announced it will drop its multi-year enforcement action against Ripple, marking a significant victory for the company and the broader crypto community. Ripple CEO Brad Garlinghouse expressed elation over this development, declaring that the case is officially over. Additionally, Minnesota Senator Jeremy Miller, once a skeptic, has proposed a Bitcoin Act, which would allow the state to invest in Bitcoin and other cryptocurrencies. This legislative movement follows the introduction of similar bills in various states aiming to create Bitcoin reserves. Furthermore, Bo Hines from the President’s Council of Advisers on Digital Assets has highlighted that stablecoin legislation, following the Senate Banking Committee's approval of the GENIUS Act, is expected to be finalized in the next two months. The GENIUS Act aims to set guidelines for stablecoin issuers and reflects a bipartisan effort to enhance U.S. dominance in the digital asset space.

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