Despite the excitement generated by Donald Trump’s launch of his TRUMP memecoin, the primary concern within the crypto community remains the ongoing XRP lawsuit between Ripple and the SEC. Members of the XRPArmy are optimistic that with recent events such as Trump’s presidency and Gary Gensler’s resignation as SEC Chair, a resolution in the Ripple vs SEC case may soon be on the horizon.
Nevertheless, legal experts like Securities attorney Marc Fagel caution about the uncertain trajectory of the Ripple vs SEC case, suggesting a potential 10-month postponement. The renewed debate over Trump’s token launch has sparked fresh interest in the long-anticipated resolution of the XRP lawsuit.
Securities Lawyer Predicts 10-Month Delay in Ripple vs SEC Case
In a recent post on X, Marc Fagel suggested that the Ripple vs SEC case may extend for up to 10 more months due to its uncertain nature. He also hinted at the possibility of an earlier resolution if the incoming SEC Chair, Paul Atkins, decides to abandon the appeal under the Trump administration.
The dialogue started when Fox Business journalist Eleanor Terrett shared thoughts about Donald Trump’s TRUMP token. Eric Trump praised the TRUMP coin as the “most popular digital joke globally,” but Fagel considered it to be a “scam similar to a pyramid scheme.
NEW: Eric Trump has made an official statement about the debut of the $TRUMP token, describing it as “the most trending digital meme in existence.
It’s real.
— Eleanor Terrett (@EleanorTerrett) January 18, 2025
The discussion rapidly evolved into a passionate exchange of opinions, covering such controversial issues as the Ripple versus SEC lawsuit, Elon Musk’s ongoing tussle with the SEC, and the far-reaching effects of cryptocurrency regulations. Marc Fagel penned this description.
It’s been established by a federal court that Ripple indeed violated the law. Elon Musk, who has previously faced securities fraud charges and is thus considered a repeat offender, appears to have breached the law as well. However, it seems that wealthy individuals like billionaires and well-funded corporations often escape legal consequences.
How Trump’s Memecoin Will Impact XRP Lawsuit?
In response to the buzz surrounding the TRUMP memecoin, XRP legal teams are carefully assessing the possible repercussions of the ongoing XRP lawsuit. For example, attorney Bill Morgan has voiced worries about the memecoin’s influence, calling for Congress to establish more definite cryptocurrency regulations. Simultaneously, vocal XRP supporter John Deaton highlights the importance of regulating memecoins over issues such as SAB 121, CFTC supervision, and tax restructuring.
Ripple Lawsuit’s Broader Impact on Crypto Market
The outcome of the Ripple vs Securities and Exchange Commission (SEC) trial might have far-reaching effects on the crypto market, particularly in terms of regulation. If Ripple triumphs over the SEC, it may set a legal precedent that classifies most digital assets as non-securities, providing clarity for other cryptocurrencies. Conversely, if Ripple loses to the SEC, it could lead to a more stringent regulatory environment, potentially creating major hurdles for the crypto market.
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2025-01-20 15:10