Ripple Case: What Happens If Paul Atkins Dismisses the XRP Lawsuit?

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As a seasoned researcher with over two decades of experience in financial markets and regulation, I find myself closely following the unfolding events in the SEC v Ripple case. Having witnessed the tumultuous rise and fall of various cryptocurrencies, and having seen regulatory bodies grapple with this new frontier, I am excited by the changes on the horizon.

As a analyst, I find myself once again zeroing in on the ongoing SEC vs Ripple case, with crypto-friendly Paul Atkins poised to assume the role of SEC Chairman from outgoing Gary Gensler. Notably, the looming January 15th deadline approaches for the US SEC to file their opening brief in the XRP lawsuit at the 2nd Circuit Court of Appeals. As experts and legal minds share their perspectives on potential future developments, I ponder what the coming weeks may hold for this significant case within the digital asset landscape.

Incoming SEC Chair Paul Atkins to Dismiss Ripple Case

Following Donald Trump’s victory in the U.S. presidency, there has been a significant change in the dynamics of the cryptocurrency market, particularly with Bitcoin and XRP. Furthermore, the formation of a pro-cryptocurrency administration, notably Paul Atkins’ nomination as SEC Chairman, has added to the optimistic outlook within the crypto market.

This includes positive developments towards Ripple case dismissal or withdrawal and reduce former SEC Director Bill Hinman’s influence in the agency. Experts including pro-XRP lawyers Jeremy Hogan, Fred Rispoli, Bill Morgan cleared that there are high odds of XRP lawsuit dismissal under incoming SEC Chair Paul Atkins. This could lead to a rally in XRP price.

Furthermore, a review into the ethics of Bill Hinman, Director of SEC Corporation Finance, has been concluded and presented to management. It’s worth mentioning that Ripple CLO Stuart Alderoty requested the incoming administration to address the persistent issue associated with Hinman at the agency. He proposed initiating actions aimed at rebuilding trust in the SEC, as Atkins works on mending the damage caused by Gary Gensler’s tenure.

The Digital Chamber said:

This week, representatives from the Token Alliance Leadership Committee at TDC shared their proposed policy priorities for engaging with the SEC regarding digital assets by 2025, in an effort to improve the long-standing strained relationship between the SEC and the industry.

XRP Lawsuit Appeals Opening Brief Deadline Nears

In the Ripple case, the Securities and Exchange Commission (SEC) needs to submit their opening appeal brief by January 15th. Despite speculation that the lawsuit may be reaching its conclusion, some believe Chairman Gensler might use his final significant move in the Ripple vs SEC court battle, as he steps down five days after the deadline for filing the initial appeal.

Significantly, the Securities and Exchange Commission (SEC), under Chairman Gensler’s leadership, has submitted a 81-page response in the Binance lawsuit, aiming to prevent dismissal, which Ripple’s Chief Legal Officer referred to as “unfounded arguments.” Gensler persists in asserting that cryptocurrencies do not inherently possess value.

Currently, many experts and crypto executives are optimistic that the SEC (Securities and Exchange Commission) will either dismiss or withdraw their case against XRP. This could potentially trigger a surge in XRP’s price, reaching as high as $3 and beyond. The reasoning behind this optimism is that the current SEC, led by Gary Gensler, has been criticized for its regulation-by-enforcement approach towards crypto companies. However, there is hope that the new SEC will shift their focus and align with the pro-crypto agenda of former President Donald Trump. Additionally, the XRP community also anticipates the approval of an XRP ETF by the upcoming SEC.

The prolonged legal battle over XRP is nearing its conclusion as the appellate court has set a final hearing date. Ripple and its CEO, Brad Garlinghouse, will respond with their brief in April.

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2024-12-25 13:36