On March 19th, cryptocurrency journalist Eleanor Terrett shared significant updates regarding the legal landscape surrounding Ripple and its derivatives. Following the U.S. Securities and Exchange Commission’s (SEC) decision to retract its appeal against Ripple, the cryptocurrency trading platform Bitnomial has announced intentions to withdraw its lawsuit against the SEC. This lawsuit, initiated in October of the previous year, was centered around the SEC’s assertion of regulatory jurisdiction over XRP futures contracts linked to Bitnomial’s offerings.
In a pivotal move, Terrett revealed that Bitnomial is set to officially launch XRP futures contracts tomorrow morning. These contracts have received authorization from the U.S. Commodity Futures Trading Commission (CFTC), marking a critical progression in the regulatory clarity surrounding cryptocurrency futures. This development is likely to bolster the trading activity on the platform, as well as enhance investor confidence in XRP derivatives.