Bitnomial Launches XRP Futures, Drops SEC Lawsuit
Bitnomial Launches First CFTC-Regulated XRP Futures
Chicago-based cryptocurrency exchange Bitnomial has launched the first-ever Commodity Futures Trading Commission (CFTC)-regulated XRP futures contracts in the United States. This follows the exchange's voluntary dismissal of its lawsuit against the U.S. Securities and Exchange Commission (SEC).
Bitnomial announced the launch on March 20, 2025, stating that the XRP futures are physically settled, providing real market impact. The offering is initially available to existing users.
Dismissal of SEC Lawsuit
The dismissal of the lawsuit against the SEC reflects a move towards greater regulatory clarity in the cryptocurrency space. Bitnomial had originally filed suit in October 2024, challenging the SEC's assertion that XRP is a security. The SEC's actions had previously blocked Bitnomial's attempt to list XRP futures contracts.
Regulatory Shift and Ripple Case
Bitnomial's move comes on the heels of several significant developments. Ripple Labs' partial victory against the SEC in July 2023, which determined XRP is not a security in retail sales, played a role in the improved regulatory outlook. The SEC's decision to drop its appeal of this ruling further solidified this shift.
This evolving regulatory environment has seen the SEC taking a less aggressive stance on crypto, including the dismissal of various enforcement actions against crypto firms under the Trump administration. Recent actions by the SEC Acting Chair, Mark Uyeda, such as plans to scrap a proposed rule tightening crypto custody standards for investment advisers, further demonstrate this trend.
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