{"id":23893,"date":"2024-11-27T08:49:40","date_gmt":"2024-11-27T08:49:40","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=23893"},"modified":"2024-11-27T08:49:40","modified_gmt":"2024-11-27T08:49:40","slug":"sec-to-dismiss-the-ripple-case-former-cftc-chairman-thinks-so","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=23893","title":{"rendered":"SEC to Dismiss the Ripple Case? Former CFTC Chairman Thinks so"},"content":{"rendered":"

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

Ripple\u2019s legal battle with the SEC sees renewed optimism with Gary Gensler\u2019s resignation and speculation of the case being dropped under new leadership.
\nLegal experts suggest a possible $125M settlement or restructured terms, though opinions on dismissal vary.<\/p>\n

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

Is the End Near?<\/h2>\n

Despite the numerous developments as of late, the lawsuit between Ripple and the US Securities and Exchange Commission (SEC) remains ongoing. It dates back to December 2020 when the regulator accused the company and some of its executives of illegally raising $1.3 billion through an unregistered securities offering by selling its native cryptocurrency, XRP.<\/span><\/p>\n

The Ripple community had cause for celebration recently. First, they cheered <\/span>Donald Trump\u2019s presidential win,<\/span><\/a> who promised to fire the SEC\u2019s Chairman Gary Gensler on day 1 after assuming office. Later, the regulator\u2019s leader (<\/span>who is<\/span> known for his anti-crypto stance) <\/span>confirmed<\/span><\/a> he <\/span>will<\/span> vacate his post on January 20 (the day marking Trump\u2019s inauguration).\u00a0<\/span><\/p>\n

Somewhat <\/span>expectedly<\/span>, these developments have resulted in a massive resurgence for XRP\u2019s price and speculation that the legal battle will soon <\/span>be officially resolved<\/span> under Gensler\u2019s successor.<\/span><\/p>\n

Most recently, Chris Giancarlo (former <\/span>Chairman<\/span> of the CFTC) <\/span>claimed<\/span><\/a> the SEC might drop the case during Trump\u2019s administration.<\/span>\u00a0<\/span><\/p>\n

\u201cI would recommend that regulatory agencies drop <\/span>a lot<\/span> of these cases where they\u2019ve lost. I think they should drop the XRP case. I would bet that they would,\u201d he added.<\/span><\/p>\n

The Possible Scenarios<\/span><\/h2>\n

The<\/span> American attorneys Jeremy Hogan and Fred Rispoli also touched upon the matter recently.<\/span> The former <\/span>predicted<\/span><\/a> that the Commission might dismiss all non-fraud crypto lawsuits filed over the years. He believes <\/span>the Ripple case could be settled<\/span> for the previously ruled amount of $125 million.\u00a0<\/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> litigation<\/span> will\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 Hogan said.<\/span><\/p>\n

Rispoli thinks that dropping the lawsuit is \u201cunrealistic,\u201d claiming the $125 million penalty for Ripple is the biggest win the SEC can gain. The lawyer also forecasted that the watchdog\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> Rispoli added.<\/span><\/p>\n

Meanwhile, Ripple\u2019s CLO Stuart Alderoty recently <\/span>sparked<\/span><\/a> rumors that the case\u2019s resolution might be <\/span>just around the corner<\/span>. In a mystic post on X, he hinted at a complete victory on the legal front, praising the efforts of CEO Brad Garlinghouse and the entire team.<\/span><\/p>\n

\u00a0<\/p>\n

The post SEC to Dismiss the Ripple Case? Former CFTC Chairman Thinks so<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Ripple\u2019s legal battle with the SEC sees renewed optimism with Gary Gensler\u2019s resignation and speculation of the case being dropped under new leadership. Legal experts suggest a possible $125M settlement or restructured terms, though opinions on dismissal vary. Is the End Near? Despite the numerous developments as of late, the lawsuit between Ripple and […]<\/p>\n","protected":false},"author":0,"featured_media":23894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-23893","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\/23893"}],"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=23893"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23893\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/23894"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}