{"id":19484,"date":"2024-11-11T11:41:05","date_gmt":"2024-11-11T11:41:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=19484"},"modified":"2024-11-11T11:41:05","modified_gmt":"2024-11-11T11:41:05","slug":"ripple-v-sec-lawsuit-rumors-suggest-next-potential-chairman-of-the-regulator-will-be-pro-crypto","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=19484","title":{"rendered":"Ripple v. SEC Lawsuit: Rumors Suggest Next Potential Chairman of the Regulator Will be Pro-Crypto"},"content":{"rendered":"

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

Trump\u2019s pledge to replace SEC Chair Gensler with a pro-crypto leader has sparked excitement across the community.<\/span>
\nLegal experts believe such changes could lead to a faster resolution of the Ripple v. SEC case.<\/p>\n

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

Gensler\u2019s Possible Successor<\/span><\/h2>\n

Donald Trump\u2019s <\/span>victory<\/span><\/a> in the US presidential elections triggered a massive bull run for the cryptocurrency sector due to his shift from a previously skeptical view to a supportive stance on the asset class. During his campaign, the Republican pledged to make America \u201cthe crypto capital of the planet\u201d and proposed creating a strategic BTC reserve. <\/span><\/p>\n

He also <\/span>expressed<\/span><\/a> the intention to fire the SEC\u2019s Chairman Gary Gensler on day 1, a promise which triggered <\/span>huge<\/span> enthusiasm among the XRP Army. To the uninitiated ones, the Commission and its head have been at war with numerous crypto companies, including Ripple.<\/span><\/p>\n

Crypto X has been speculating whether the newly-elected president will stick to his promise and wondering who might replace Gensler at the helm of the securities regulator. Eleanor Terrett (a <\/span>popular<\/span> journalist at Fox Business) recently claimed she discussed the matter with \u201ca person close to the Trump transition team,\u201d who assured her that the successor \u201cwill be someone pro-crypto.\u201d<\/span><\/p>\n

NEW: I asked a person close to the Trump transition team about some of the names being floated for @SECGov<\/a> chair and whether views on #crypto<\/a> would factor into the decision.<\/p>\n

The response: \u201cI promise you it will be someone pro-crypto.\u201d<\/p>\n

\u2014 Eleanor Terrett (@EleanorTerrett) November 8, 2024<\/a><\/p>\n

A new SEC Chairman who is more open to innovation and less inclined to hamper the crypto industry\u2019s advancement by constant legal battles is considered good news <\/span>not only<\/span> for those invested in XRP <\/span>but<\/span> the entire digital asset market.<\/span><\/p>\n

The Potential Effect on the Case<\/span><\/h2>\n

Last week, Fred Rispoli (a US attorney who has been following the updates surrounding the Ripple v. SEC lawsuit) <\/span>argued<\/span><\/a> that the election of Trump could lead to \u201cextreme changes\u201d at the watchdog.<\/span><\/p>\n

He claimed that the $125 million penalty, which Federal Judge Torres ordered<\/a> Ripple to pay for violating <\/span>certain<\/span> securities laws, is the biggest win the agency can gain. Rispoli also thinks that the SEC\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\u00a0XRP by Ripple are sufficiently structured\u00a0<\/span>to not be investment contracts<\/span>,<\/span>\u201c<\/span> he added.<\/span><\/p>\n

The American lawyer Jeremy Hogan chipped in, too. He went even further, forecasting that the new leader of the SEC may dismiss all non-fraud crypto lawsuits filed over the years. Similar to Rispoli, Hogan believes <\/span>the case could be officially settled<\/span> for the amount of $125 million:<\/span><\/p>\n

\u201cIt would be\u2026awkward to settle for less than what was already awarded by a Court!\u00a0<\/span>The Coinbase and other\u00a0<\/span>cases in<\/span>\u00a0litigation<\/span>\u00a0will\u00a0<\/span>simply<\/span>\u00a0<\/span>be dismissed<\/span>.<\/span>\u00a0<\/span>This<\/span> will take some time. Not January, but perhaps before summer. That\u2019s my call, and I\u2019m sticking to it.\u201d<\/span><\/p>\n

The post Ripple v. SEC Lawsuit: Rumors Suggest Next Potential Chairman of the Regulator Will be Pro-Crypto<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Trump\u2019s pledge to replace SEC Chair Gensler with a pro-crypto leader has sparked excitement across the community. Legal experts believe such changes could lead to a faster resolution of the Ripple v. SEC case. Gensler\u2019s Possible Successor Donald Trump\u2019s victory in the US presidential elections triggered a massive bull run for the cryptocurrency sector […]<\/p>\n","protected":false},"author":0,"featured_media":19485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19484","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\/19484"}],"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=19484"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19484\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19485"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}