US Securities and Exchange Commission (SEC) Ripple $2.4 As the appeal deadline in the case approaches (January 15, 2025), there is increasing speculation about whether the SEC will continue its legal fight.
Ripple Case
The SEC’s appeal of the July 2023 decision partly against and partly in favor of Ripple remains a notable focus. United States District Judge Analisa Torres ruled that XRP is not a security when sold to individual investors through exchanges, but is classified as a security when institutional sales are made. This decision was a major turning point in the case of the US regulator.
Despite an unsuccessful attempt to appeal, the SEC filed a motion for further discussion of the decision. However, legal experts differ on whether the SEC will continue the objection process or seek an extension.
Attorney Jeremy Hogan argued that the SEC could seek a 30-day extension to explain its delays in filing the objection.
Bill Morgan and Case Review
In light of the change in SEC leadership, Bill Morgan has expressed concerns about the SEC’s future approach to cryptocurrency regulation. Morgan noted that the new attorney general, Jorge Tenreiro, who will sign off on the SEC’s appeal in the Ripple case, is heavily involved in the case.
“If new commissioner Paul Atkins remains in that position after he is confirmed, I will continue to be skeptical of the SEC’s approach to crypto and crypto markets.” -Morgan.
Morgan’s statements highlight the uncertainty of the SEC’s strategy. Despite the looming deadline to appeal the case, Morgan cautioned against jumping to premature conclusions about the agency’s decision.
The ongoing leadership change at the regulator could impact the outcome of the Ripple case. Paul Atkins, confirmed as the new SEC Chairman, is expected to bring a different perspective to the agency’s approach to crypto regulation.
Atkins, a former SEC Commissioner, is known for advocating for clearer and more balanced regulatory measures, especially in the cryptocurrency industry. Ripple CEO Brad Garlinghouse called Atkins “an outstanding choice” and emphasized the need for sensible regulations.
Under Atkins’ leadership, Ripple and other crypto-related businesses may face a more favorable regulatory environment. Garlinghouse is optimistic that Atkins’ approach could end the “ban era” for crypto.
As a result, the progress of the Ripple case and the SEC’s strategic decisions could play an important role in regulating crypto markets. New leadership and legal developments continue to shape the dynamics in the industry. The step that the SEC will take on January 15 and whether the symbolic Ripple case will be dropped after the change of duty on January 20 may cause great fluctuations in the price of XRP Coin.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
