{"id":18892,"date":"2024-11-08T10:07:12","date_gmt":"2024-11-08T10:07:12","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=18892"},"modified":"2024-11-08T10:07:12","modified_gmt":"2024-11-08T10:07:12","slug":"heres-what-may-happen-to-the-ripple-v-sec-case-under-trumps-administration-us-lawyer","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=18892","title":{"rendered":"Here\u2019s What May Happen to the Ripple v. SEC Case Under Trump\u2019s Administration (US Lawyer)"},"content":{"rendered":"

TL;DR<\/strong><\/span><\/p>\n

Lawyers suggest that the lawsuit might be resolved with a potential $125 million settlement if the SEC leadership changes.
\nOne of them believes that a complete dismissal of the case is \u201cunrealistic.\u201d<\/p>\n

<\/a><\/span><\/h2>\n

A Possible Resolution Next Year?<\/h2>\n

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 <\/span>an unregistered securities<\/span> offering by selling XRP.<\/span><\/p>\n

The case went through several ups and downs in the following years, with Ripple securing some vital (yet partial) court wins. <\/span>In the summer of 2023<\/span>, for example<\/span>, Judge Torres ruled<\/a> that the firm\u2019s XRP sales to retail investors on crypto exchanges did not violate securities laws.<\/span> Earlier this year, though, she <\/span>determined<\/span><\/a> that Ripple\u2019s direct sales of its native token to institutional investors violated federal securities laws, thus fining the enterprise $125 million.<\/span><\/p>\n

The firm seemed ready to pay the penalty, thus settling the lawsuit. However, the SEC prolonged it by <\/span>appealing<\/span><\/a> the <\/span>aforementioned 2023 verdict<\/span>. The regulator\u2019s action means that the official resolution of the legal battle may occur in a few years.\u00a0<\/span><\/p>\n

Nonetheless, Donald Trump\u2019s victory in the US presidential elections could bring the end closer. At least, that is what the American attorney Jeremy Hogan <\/span>assumed<\/span><\/a>.<\/span><\/p>\n

Trump <\/span>promised<\/span><\/a> to fire the <\/span>SEC\u2019s<\/span> Chairman Gary Gensler on day one <\/span>after taking the helm<\/span>.<\/span> While his inauguration <\/span>is <\/span>set<\/span> for<\/span> January 20, Hogan believes Gensler will step down before that day.\u00a0<\/span><\/p>\n

He predicted that the new agency leader might dispose of all non-fraud crypto lawsuits the regulator has filed over the years. The recommendation <\/span>is expected<\/span> to be approved by the Commissioners since the division will <\/span>be comprised<\/span> of Republicans.<\/span><\/p>\n

According to Hogan, such an outcome would result in the <\/span>settlement of the<\/span> Ripple v. SEC case for the previously ruled amount of $125 million.<\/span>\u00a0<\/span><\/p>\n

\u201cIt would be\u2026awkward to settle for less than what was already awarded by a Court! <\/span>The Coinbase and other <\/span>cases in<\/span> litigation<\/span> will <\/span>simply<\/span> be dismissed<\/span>.<\/span> This<\/span> will take some time. Not January, but perhaps before summer. That\u2019s my call, and I\u2019m sticking to it,\u201d the lawyer concluded.<\/span><\/p>\n

An Additional Opinion<\/span><\/h2>\n

Fred Rispoli<\/span> \u2013 <\/span>another US attorney who has been following the updates surrounding the Ripple v. SEC legal tussle<\/span> \u2013 <\/span>also chipped in. He <\/span>claimed<\/span><\/a> that <\/span>the election of Trump<\/span> should be considered \u201cgood news\u201d as it will lead to \u201cextreme changes\u201d at the agency.<\/span> He thinks those amendments will <\/span>come into effect<\/span> in March or April next year.\u00a0<\/span><\/p>\n

Contrary to Hogan, Rispoli believes <\/span>dismissing<\/span> the lawsuit is \u201cunrealistic.\u201d In his view, the $125 million penalty is the biggest win the SEC can gain. The attorney also predicted that the regulator\u2019s new potential leadership will \u201crecognize this whole case was idiotic and settle at that point.\u201d<\/span><\/p>\n

\u201cThis might include a reduction in the fine and an agreement that current sales of <\/span>XRP<\/span> by Ripple are sufficiently structured <\/span>to not be investment contracts<\/span>,\u201d Rispoli added.<\/span><\/p>\n

The post Here\u2019s What May Happen to the Ripple v. SEC Case Under Trump\u2019s Administration (US Lawyer)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

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 \u201cunrealistic.\u201d A Possible Resolution Next Year? The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) dates back to 2020, when […]<\/p>\n","protected":false},"author":0,"featured_media":18893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-18892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18892"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18892"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18892\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/18893"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}