Will the SEC’s New Chair Spell Relief for Ripple? 🤔

by

In the world of cryptocurrencies, where fortunes can change faster than you can say “blockchain,” the lawsuit between Ripple Labs and the Securities and Exchange Commission (SEC) has been a rollercoaster ride of epic proportions. But, dear reader, fret not! For we may have hit a turning point, and it comes in the form of a new sheriff in town: Donald Trump, who’s back in the White House and has nominated Paul Atkins as the new SEC Chairman.

With the SEC’s crypto-crusading ex-Chairman Gary Gensler out, the industry is holding its breath to see if the acting chair Mark Uyeda and commissioners, including Hester Peirce, will change the SEC’s hardline stance on digital coins.

Ripple vs. SEC: The Saga Continues

A recent development in the Binance vs. SEC lawsuit offers a glimpse into how the Commission might handle the Ripple litigation going forward. The two parties filed a joint motion seeking a 60-day stay, which would put the brakes on the case that the SEC initiated two years ago under Gensler’s watch.

Could this be a sign that the SEC is ready to hit the pause button on other high-profile crypto cases? Financial services lawyer James “MetaLawMan” Murphy seems to think so, even suggesting that the Ripple lawsuit might be one of them.

Murphy’s comment came in response to an observation from XRP community member Ashley PROSPER (@AshleyPROSPER1), who expressed optimism that the Ripple case would be concluded soon. But, alas, dear reader, the SEC has been known to milk these cases for all they’re worth, as evidenced by their recent request for a 30-day extension to respond to DRW’s motion to dismiss a case related to the firm’s crypto trading activities.

As of now, there’s no official confirmation on whether the Ripple case will follow in Binance’s footsteps. However, the SEC’s request for additional time in multiple enforcement actions has sparked hope among XRP holders and legal experts that a resolution may be on the horizon. So, let us wait and see, with bated breath, what the future holds for our dear friend, Ripple.

At press time, XRP traded at $2.40, but who knows? With the SEC’s new leadership, it might just reach for the stars… or plummet to the depths. Only time will tell!

Read More

2025-02-12 17:12