SEC Ripple Settlement Sparks Controversy, Stablecoin Regulation Urged, and Memecoin Mania
May 9, 2025 – The cryptocurrency world is buzzing with news across various sectors today. The Securities and Exchange Commission (SEC) settlement with Ripple Labs has drawn sharp criticism from Commissioner Hester Peirce, while Ripple CEO Brad Garlinghouse is advocating for urgent stablecoin regulation in the US.
SEC Commissioner Critiques Ripple Settlement
In a public dissent, SEC Commissioner Hester Peirce labeled the SEC’s recent settlement with Ripple, CEO Brad Garlinghouse, and Executive Chairman Chris Larsen, a “tremendous disservice” to the crypto industry. The settlement, filed with the district court on Thursday, is raising significant questions about the SEC’s approach to regulating cryptocurrencies. Critics argue that the settlement sets a confusing precedent for the industry.
Ripple CEO Warns of US Falling Behind in Stablecoin Regulation
Meanwhile, Ripple CEO Brad Garlinghouse highlighted the urgent need for stablecoin regulation in the US. In a statement on X (formerly Twitter), Garlinghouse warned that the US risks losing its competitive edge in the global stablecoin market without swift action. This emphasizes the growing importance of clear regulatory guidelines for stablecoins, which are increasingly popular globally.
Nvidia Rewires Chip to Bypass China Ban
Elsewhere in tech, Nvidia is reportedly modifying its H20 chip to circumvent the recent restrictions on exporting advanced chips to China. This highlights the complex geopolitical landscape surrounding technological advancements.
Crypto Crime: Virginia Man Sentenced for ISIS Funding
In a separate case, a Virginia man, Mohammed Azharuddin Chhipa, has been sentenced to 30 years in prison for using cryptocurrency and encrypted apps to fund ISIS members in Syria. This underscores the potential for cryptocurrencies to be used for illicit activities, demanding enhanced regulatory oversight.
Memecoin Rally Intensifies
In the memecoin market, BONK, FLOKI, BRETT, and PEPE are experiencing a surge in price, suggesting continued bullish momentum. These memecoins have recently broken through key resistance levels, indicating potential for further price increases. Investors should approach such volatile markets with caution.
