Is the SEC Finally Softening Up? You Won’t Believe What This Lawyer Just Said!

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So, here we are again, folks. The US SEC is back in the crypto news, and guess what? Legal experts are weighing in on whether they might actually start dropping some of these ridiculous lawsuits. I mean, come on! Renowned crypto attorney James Murphy, or as he likes to call himself, MetaLawMan (seriously, who comes up with these names?), has some thoughts on when the SEC might finally get off their high horse and start dismissing cases. His insights on the whole Coinbase situation? Let’s just say they’ve got people talking. And by talking, I mean arguing over coffee like it’s the Super Bowl. 🏈☕

SEC’s New Strategy: Are They Finally Getting It?

So, this pro-XRP lawyer, James Murphy, recently pointed out that the SEC decided not to oppose Coinbase’s motion for an interlocutory appeal at the 2nd Circuit. This is a big deal, folks! It’s like watching a stubborn mule finally decide to move. This is a shift from their earlier stance under SEC Chair Gary Gensler, who probably thought he was the king of crypto or something. 👑

Murphy said:

“Assuming the 2nd Circuit accepts the case for interlocutory appeal, it would be a few months before the SEC is required to file a brief and take a legal position on the question of whether crypto assets traded on secondary exchanges are investment contracts.”

Translation: We might be waiting a while, folks. But hey, at least there’s a chance they might settle or dismiss the case before we all turn gray waiting for it. This has led to some wild speculation that the SEC is softening up on crypto cases. I mean, who knew they had a heart? 💔

When Will the SEC Start Dropping Crypto Cases? Your Guess is as Good as Mine!

Now, here’s the kicker: the SEC is in a bit of a leadership pickle. No Senate-confirmed chairman means they’re just sitting around twiddling their thumbs. Murphy thinks we might see a new chair by March or April. When an X user asked what’s stopping them from dropping cases, Murphy said:

“No Senate-confirmed Chairman yet. Probably March or April time frame. Paul Atkins may be one of President Trump’s least controversial nominations.”

So, basically, we’re waiting for a new chair to come in and shake things up. But don’t get too excited! The Commissioners still need to vote to settle or dismiss a case. Right now, there are three of them, so Hester Peirce and Mark Uyeda hold the power. It’s like a game of poker, but with more suits and less fun. 🃏

And let’s not forget the SEC’s crypto task force is pushing for clear regulations. Because, you know, clarity is what we all need in this chaotic world of crypto. 🙄

What’s Next for the XRP Lawsuit? Buckle Up!

The Ripple lawsuit has been the talk of the town, especially after rumors that the SEC removed it from their website. Sherrie, a well-known XRP community attorney, shot down those settlement rumors faster than I can say “not happening.” She clarified that the case is now listed under the Court of Appeals website because, surprise, it has a new case number. 🎉

Ripple is set to submit its appeal-related brief by April 16. And XRP attorney Jeremy Hogan thinks the SEC might just drop or withdraw the case by April or May, which is right around the time we might get a new chair. Coincidence? I think not! 🤔

Will the SEC Drop Ripple’s Case? The Million-Dollar Question!

Some experts think the SEC’s new approach with Coinbase could mean they’ll do the same for Ripple. Others? Not so much. Sherrie argues that an acting chair isn’t likely to make a big decision like dropping a lawsuit. But when an X user asked for an “update on the Ripple Vs SEC appeal,” MetaLawMan said it’s “still chugging along.” Great, just what we needed—more chugging! 🚂

He also mentioned that Ripple’s brief is due on April 16. So, mark your calendars, folks! Many are speculating that we might finally see some movement in the XRP lawsuit with the new SEC chair coming in April. Or we might just be left hanging. Who knows? Welcome to the world of crypto! 🎢

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2025-02-05 16:40