The Ripple vs. SEC lawsuit might be about to change dramatically. With a new administration in the White House, things are looking different for crypto regulation.
A Shift in the SEC’s Approach?
Paul Atkins is the new SEC Chairman, replacing Gary Gensler. This change, along with the acting chair, Mark Uyeda, and commissioner Hester Peirce, could mean a shift in how the SEC handles crypto cases. Everyone’s watching to see what happens.
Clues from the Binance Case
The Binance vs. SEC lawsuit offers a potential preview. Binance and the SEC jointly asked a court to pause the case for 60 days. They said this is to give the SEC’s new Crypto Task Force time to work on potential solutions. This is the first major crypto enforcement pause since Uyeda took over.
A Lawyer’s Prediction
Crypto lawyer James “MetaLawMan” Murphy thinks this 60-day pause in the Binance case hints at what might happen with other big crypto cases, including Ripple’s. He believes the pause might be a sign that Uyeda and Peirce want to wait for Atkins’ confirmation before making decisions on dismissing crypto cases. He also points out the SEC has asked for more time in other crypto cases, suggesting a pattern of delays.
More Delays?
The SEC recently got a 30-day extension to respond in a case against Cumberland DRW, a crypto trading firm. They used the creation of the Crypto Task Force as the reason for the delay – just like in the Binance case. This suggests that non-fraud-related crypto lawsuits might be slowed down while the new task force figures things out.
What About Ripple?
Fox Business journalist Eleanor Terrett believes other cases, like those against Ripple, Coinbase, and Kraken, might see similar pauses. Many in the crypto community see the new Crypto Task Force as a big deal, potentially changing how the SEC handles crypto regulations.
The Future of the Ripple Case
While there’s no official word on whether the Ripple case will pause like Binance’s, the recent delays have given XRP holders and some legal experts renewed hope for a resolution soon. At the time of writing, XRP was trading at $2.40.
