In a pivotal development for the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) has decided to drop its appeal against Ripple Labs, as confirmed by CEO Brad Garlinghouse. This decision marks a significant conclusion to the SEC's long-standing legal battle with Ripple, which has been closely monitored by the crypto market. The SEC's move is expected to alleviate regulatory uncertainty, potentially encouraging the return of major crypto companies to the U.S. market and creating new jobs, as noted by industry experts. Additionally, the SEC has reportedly dismissed or paused lawsuits and investigations involving other crypto firms, further signaling a shift in its approach to regulating the sector.