{"id":35609,"date":"2025-01-14T10:17:26","date_gmt":"2025-01-14T10:17:26","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=35609"},"modified":"2025-01-14T10:17:26","modified_gmt":"2025-01-14T10:17:26","slug":"ripple-vs-sec-why-this-week-could-be-a-turning-point-in-the-lawsuit","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=35609","title":{"rendered":"Ripple vs. SEC: Why This Week Could Be a Turning Point in the Lawsuit"},"content":{"rendered":"

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

Ripple\u2019s legal battle with the SEC reaches a key moment as the agency must file its opening brief by January 15.
\nWith Gary Gensler stepping down on January 20, incoming pro-crypto SEC Chair Paul Atkins raises hopes for a favorable resolution, though the case\u2019s complexity tempers expectations.<\/p>\n

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

The Deadline Approaches<\/h2>\n

The legal tussle between Ripple and the US Securities and Exchange Commission (SEC) started in December 2020. <\/span>Back then, the<\/span> regulator sued the company, accusing it and some of its executives\u00a0of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP.<\/span>\u00a0<\/span><\/p>\n

Despite the numerous rulings and developments in the following years, the lawsuit remains ongoing. Last year, for instance, Judge Analisa Torres <\/span>ordered<\/span><\/a> Ripple to pay a $125 million civil penalty for violating federal securities laws through its institutional sales of XRP. <\/span>Prior to<\/span> that, she found that the company\u2019s programmatic sales of XRP to retail clients through centralized exchanges did not breach the rules.<\/span><\/p>\n

The firm was ready to pay the fine, which would have officially settled the case. After all, the sum represented just a fraction of the $2 billion the SEC initially asked for. <\/span>Nonetheless, the watchdog <\/span>filed<\/span><\/a> a last-minute appeal, and the lawsuit entered a new phase<\/span>, which consists of filings<\/span> and a briefing process.<\/span><\/p>\n

It is worth mentioning that the agency\u2019s petition will <\/span>be dismissed<\/span> unless it files<\/span> an opening brief<\/span><\/a> against Ripple by tomorrow (January 15).<\/span><\/p>\n

According to some legal experts, the SEC will not miss the deadline. <\/span>Jeremy Hogan <\/span>claimed<\/span><\/a> people shouldn\u2019t be surprised if that\u2019s the case since the agency is still spearheaded by Chairman Gary Gensler.<\/span> The latter is known as a critic of the digital asset industry, with the Commission filing countless lawsuits against crypto businesses during his tenure.<\/span><\/p>\n

\u201cThe SEC will file its brief <\/span>on January 15<\/span> because it has to, but that doesn\u2019t mean the incoming heads of the SEC won\u2019t settle the case. It changes nothing,\u201d he added.<\/span><\/p>\n

Waiting for the Next Chairman<\/span><\/h2>\n

It is worth mentioning that Gensler has <\/span>less than a week<\/span> left at the helm of the securities regulator.<\/span> He decided to step down on January 20 after Donald Trump <\/span>promised<\/span><\/a> to fire him on day 1 after assuming office at the White House.<\/span><\/p>\n

The<\/span> next leader of the SEC <\/span>will be <\/span>Trump\u2019s nominee, <\/span>Paul<\/span> Atkins<\/span><\/a>.<\/span> He has expressed a pro-crypto stance <\/span>in the past<\/span>, triggering enthusiasm across the XRP Army. <\/span><\/p>\n

Some <\/span>of the<\/span> optimists expect the Commission\u2019s upcoming leadership to take a less hostile stance toward the cryptocurrency industry and push the case against Ripple to a favorable resolution soon. However, <\/span>they should have somewhat realistic hopes,<\/span> considering the complexity of the entire legal process.<\/span><\/p>\n

The post Ripple vs. SEC: Why This Week Could Be a Turning Point in the Lawsuit<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Ripple\u2019s legal battle with the SEC reaches a key moment as the agency must file its opening brief by January 15. With Gary Gensler stepping down on January 20, incoming pro-crypto SEC Chair Paul Atkins raises hopes for a favorable resolution, though the case\u2019s complexity tempers expectations. The Deadline Approaches The legal tussle between […]<\/p>\n","protected":false},"author":0,"featured_media":35610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-35609","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\/35609"}],"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=35609"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/35609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/35610"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}