Here’s What May Happen to the Ripple v. SEC Case Under Trump’s Administration (US Lawyer)
The post Here’s What May Happen to the Ripple v. SEC Case Under Trump’s Administration (US Lawyer) appeared on BitcoinEthereumNews.com.
TL;DR Lawyers suggest that the lawsuit might be resolved with a potential $125 million settlement if the SEC leadership changes. One of them believes that a complete dismissal of the case is “unrealistic.” A Possible Resolution Next Year? The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) dates back to 2020, when the watchdog accused the company and some of its executives of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The case went through several ups and downs in the following years, with Ripple securing some vital (yet partial) court wins. In the summer of 2023, for example, Judge Torres ruled that the firm’s XRP sales to retail investors on crypto exchanges did not violate securities laws. Earlier this year, though, she determined that Ripple’s direct sales of its native token to institutional investors violated federal securities laws, thus fining the enterprise $125 million. The firm seemed ready to pay the penalty, thus settling the lawsuit. However, the SEC prolonged it by appealing the aforementioned 2023 verdict. The regulator’s action means that the official resolution of the legal battle may occur in a few years. Nonetheless, Donald Trump’s victory in the US presidential elections could bring the end closer. At least, that is what the American attorney Jeremy Hogan assumed. Trump promised to fire the SEC’s Chairman Gary Gensler on day one after taking the helm. While his inauguration is set for January 20, Hogan believes Gensler will step down before that day. He predicted that the new agency leader might dispose of all non-fraud crypto lawsuits the regulator has filed over the years. The recommendation is expected to be approved by the Commissioners since the division will be comprised of Republicans. According to Hogan, such an outcome would result…
Filed under: News - @ November 8, 2024 10:21 am