Bitnomial plans to drop SEC lawsuit

Cryptocurrency derivatives exchange Bitnomial has announced that it plans to drop its lawsuit with the Securities and Exchange Commission (SEC) over its XRP futures product launch, following the SEC’s withdrawal of its appeal against Ripple, former Fox Business reporter Eleanor Terrett outlined via X. Bitnomial is set to launch XRP futures contracts tomorrow with approval from the Commodity Futures Trading Commission (CFTC). Last year, Bitnomial filed a lawsuit against the SEC shortly after announcing the launch of its XRP futures product, after the agency warned that the product could violate securities laws.