{"id":50726,"date":"2025-03-09T06:27:33","date_gmt":"2025-03-09T06:27:33","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=50726"},"modified":"2025-03-09T06:27:33","modified_gmt":"2025-03-09T06:27:33","slug":"ripple-v-sec-lawsuit-update-march-9th","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=50726","title":{"rendered":"Ripple v. SEC Lawsuit Update March 9th"},"content":{"rendered":"

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

Ripple\u2019s lawsuit with the SEC remains ongoing, with speculation that the company might be waiting for Paul Atkins to take over as Chairman of the agency to potentially drop or reduce the $125 million penalty.<\/p>\n

Prior to the SEC\u2019s appeal, the firm was ready to pay the fine.<\/p>\n

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

Is Ripple Waiting for This?<\/h2>\n

The US Securities and Exchange Commission (SEC) has drastically changed its approach toward the cryptocurrency industry since<\/span> the departure<\/span><\/a> of its former Chairman, Gary Gensler. Recall that it dismissed or paused numerous lawsuits against crypto entities, including Binance, <\/span>Coinbase<\/span><\/a>, Kraken, <\/span>Uniswap<\/span><\/a>, and more. <\/span>However, <\/span>its most notorious case against Ripple remains ongoing.<\/span><\/p>\n

Recently, the attorney Fred Rispoli <\/span>said<\/span><\/a> he has a new theory on the legal battle. He sees \u201cno reason why the current 2-1 pro-crypto Commission wouldn\u2019t drop the appeal and keep the $125M judgment in place.\u201d\u00a0<\/span><\/p>\n

The multi-million penalty refers to Judge Torres\u2019 decision from last summer. <\/span>Back<\/span> then<\/span>, she<\/span> ordered<\/span><\/a> Ripple to pay the amount for violating <\/span>certain<\/span> rules.<\/span> The company\u2019s execs were ready to settle the bill, but the regulator filed<\/a> a last-minute appeal, thus prolonging the lawsuit indefinitely. <\/span>Its<\/span> reaction was rather expected since <\/span>the fine<\/span> represents just a fraction of the $2 billion the SEC initially asked for.<\/span>\u00a0<\/span><\/p>\n

Rispoli assumed that Ripple\u2019s team might be waiting for Paul Atkins to step in and drop or reduce the figure. Atkins, <\/span>nominated<\/span><\/a> by President Donald Trump to serve as Chairman of the SEC, has yet to take the helm and should first receive the Senate\u2019s confirmation. Currently, the agency is spearheaded by Mark Uyeda, who has previously shown support for the cryptocurrency sector.\u00a0<\/span><\/p>\n

Over the past few days, there has been increased speculation that instead of paying the $125 million penalty, Ripple might send the equivalent amount in XRP to the strategic crypto reserve that Trump recently announced. Rispoli gave his two cents on the matter, <\/span>saying<\/span><\/a>:<\/span><\/p>\n

\u201cIt\u2019s possible, but the way we have been moving incrementally, I doubt this is a likely scenario.\u201d<\/span><\/p>\n

Other Opinions<\/span><\/h2>\n

Earlier this month, American attorney James Murphy <\/span>suggested<\/span><\/a> that the case could still be unsolved because the firm might be \u201ctrying hard to get the SEC to agree to vacate some or all of Judge Torres\u2019 decisions.\u201d\u00a0<\/span><\/p>\n

He sees the $125 million penalty as \u201cgreat\u201d for XRP holders but maintained that the findings that Ripple has breached some laws \u201cis not so great\u201d for the company\u2019s reputation.\u00a0<\/span><\/p>\n

Meanwhile, <\/span>the<\/span> former White House official Anthony Scaramucci <\/span>believes<\/span><\/a> that the lawsuit is over. In a recent interview, he placed the Ripple case among those the SEC has dropped <\/span>as of late<\/span>.<\/span> The <\/span>host of the conversation<\/span>, Scott Melker (known as The Wolf of All Streets), agreed with this assumption.\u00a0<\/span><\/p>\n

The post Ripple v. SEC Lawsuit Update March 9th<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Ripple\u2019s lawsuit with the SEC remains ongoing, with speculation that the company might be waiting for Paul Atkins to take over as Chairman of the agency to potentially drop or reduce the $125 million penalty. Prior to the SEC\u2019s appeal, the firm was ready to pay the fine. Is Ripple Waiting for This? The […]<\/p>\n","protected":false},"author":0,"featured_media":50727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-50726","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\/50726"}],"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=50726"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/50726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/50727"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}