Ripple’s Appeal Fate and SEC Shakeup: Is XRP’s $4 Target Still in Play?
The post Ripple’s Appeal Fate and SEC Shakeup: Is XRP’s $4 Target Still in Play? appeared on BitcoinEthereumNews.com.
The legal battle between Ripple and the Securities and Exchange Commission (SEC) is taking a new turn as internal shake-ups within the regulatory agency hint at a possible shift in its approach. Recent developments, including the reassignment of key litigators and the restructuring of the SEC’s Crypto and Cyber Unit, suggest that the commission may reconsider its appeal against Ripple. This has sparked optimism among the crypto community, as an SEC retreat could mark a significant victory for Ripple and keep XRP’s $4 upside target alive. Internal Changes at the SEC Signal a Shift The SEC’s Crypto and Cyber Unit, once a powerful division dedicated to enforcing regulations against digital asset firms, is now undergoing significant downsizing. Acting Chair Mark Uyeda is reportedly leading an internal review, and as part of this, the agency has reassigned Jorge Tenreiro, a key litigator in the Ripple case, to the IT department. Tenreiro was instrumental in several high-profile cases against crypto firms, and his reassignment raises questions about the SEC’s willingness to continue its aggressive legal approach. The trial lawyer who led the Ripple vs. SEC case resigns. Source: Amelia via X In addition, another lawyer involved in drafting controversial accounting guidelines that restricted banks from providing digital asset custody services has also been moved. These shifts have fueled speculation that the SEC may no longer prioritize its appeal against Ripple, which was initially filed under former Chair Gary Gensler’s administration. Commissioner Peirce’s Stance on Crypto Regulation Commissioner Hester Peirce has been loudly criticized over the approach the agency took in crypto regulation through enforcement. The commissioner is in favor of clear guidelines over it. Peirce now stated that this new Crypto Task Force will revise its approach toward classifying digital assets, and it could have some repercussions on the case of Ripple.…
Filed under: News - @ February 8, 2025 3:22 am