Bitnomial plans to drop SEC lawsuit, will launch CFTC-approved XRP futures contract

BlockBeats News, March 19th, Cryptocurrency journalist Eleanor Terrett revealed on social media that after the U.S. Securities and Exchange Commission (SEC) agreed to withdraw its appeal against Ripple, the cryptocurrency derivatives trading platform Bitnomial plans to dismiss its lawsuit against the SEC.

Bitnomial had previously sued the SEC in October last year after the SEC claimed regulatory authority over XRP futures contracts in Bitnomial's plans.

Terrett stated that Bitnomial will officially launch XRP futures contracts tomorrow morning, which have been approved by the U.S. Commodity Futures Trading Commission (CFTC).