{"id":11710,"date":"2025-02-06T14:17:37","date_gmt":"2025-02-06T14:17:37","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=11710"},"modified":"2025-02-06T14:17:37","modified_gmt":"2025-02-06T14:17:37","slug":"important-ripple-v-sec-lawsuit-update-february-6","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=11710","title":{"rendered":"Important Ripple v. SEC Lawsuit Update February 6"},"content":{"rendered":"<div>\n<p><strong>TL;DR<\/strong><\/p>\n<ul>\n<li>The reassignment of Jorge Tenreiro and the resignation of SEC Chair Gary Gensler may signal a shift in regulatory approach, potentially leading to a faster and more favorable resolution in the Ripple lawsuit.<\/li>\n<li>Despite leadership changes, the SEC continues its legal fight against the company, recently filing an appeal and gaining support from Better Markets, which insists XRP should be classified as a security.<\/li>\n<\/ul>\n<h2><span data-preserver-spaces=\"true\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/RippleSEC_CB-61.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-382167\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/RippleSEC_CB-61.jpg\" alt=\"\" width=\"1201\" height=\"720\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/RippleSEC_CB-61.jpg 1201w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/RippleSEC_CB-61-300x180.jpg 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/RippleSEC_CB-61-1024x614.jpg 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/RippleSEC_CB-61-768x460.jpg 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/RippleSEC_CB-61-50x30.jpg 50w\" sizes=\"auto, (max-width: 1201px) 100vw, 1201px\"><\/a><\/span><\/h2>\n<h2>Good News for Ripple?<\/h2>\n<p><span data-preserver-spaces=\"true\">The<\/span><span data-preserver-spaces=\"true\"> US Securities and Exchange Commission (SEC) has implemented some significant amendments to its leadership <\/span><span data-preserver-spaces=\"true\">since the beginning of the year<\/span><span data-preserver-spaces=\"true\">.<\/span><span data-preserver-spaces=\"true\"> According to a recent <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.wsj.com\/finance\/currencies\/sec-ousts-top-litigator-who-battled-with-crypto-giants-558548a8\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">report<\/span><\/a><span data-preserver-spaces=\"true\"> by the Wall Street Journal, it moved Jorge Tenreiro to its computer systems management department.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The law expert joined the Commission 11 years ago, gradually climbing the ladder to become Chief Litigation Counsel in 2024. <\/span><span data-preserver-spaces=\"true\">Tenreiro <\/span><span data-preserver-spaces=\"true\">signed the SEC\u2019s notice of appeal in its case against Ripple.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The plea was <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/sec-provides-details-with-last-minute-appeal-in-ripple-xrp-ruling\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">filed<\/span><\/a><span data-preserver-spaces=\"true\"> in October last year, and it opposes Judge Torres\u2019 ruling from 2023. <\/span><span data-preserver-spaces=\"true\">Back then, the magistrate<\/span><span data-preserver-spaces=\"true\"> found that the company\u2019s programmatic sales of XRP to retail clients through centralized exchanges did not breach the rules.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Tenreiro is not someone the Ripple community thinks highly of. In December 2024, John Deaton (a prominent attorney representing thousands of XRP investors in the lawsuit against the SEC) <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/JohnEDeaton1\/status\/1864036823632060715\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">described<\/span><\/a><span data-preserver-spaces=\"true\"> him and Gary Gensler as \u201ctwo peas in the same SEC pod.\u201d\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He revealed having a personal confrontation with Tenreiro, saying the latter \u201cmisled a federal judge when he claimed I should not be appointed amicus counsel on behalf of XRP holders in the Ripple case.\u201d Eventually, Judge Torres ignored Tenreiro\u2019s request, which Deaton labeled \u201cthe best revenge.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Less than a month ago, the SEC saw its Chairman, Gary Gensler, <a href=\"https:\/\/cryptopotato.com\/gary-gensler-officially-out-what-does-it-mean-for-ripple-xrp\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">vacate<\/a> his post.\u00a0The American was considered a huge enemy of the digital asset industry, <\/span><span data-preserver-spaces=\"true\">with<\/span><span data-preserver-spaces=\"true\"> the securities regulator <\/span><span data-preserver-spaces=\"true\">launching<\/span><span data-preserver-spaces=\"true\"> multiple legal battles against cryptocurrency businesses during his tenure.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Gensler was replaced by Mark Uyeda, who <\/span><span data-preserver-spaces=\"true\">has<\/span><span data-preserver-spaces=\"true\"> an entirely different approach to the industry. Those changes might lead to a faster and perhaps favorable outcome of the Ripple v. SEC case and benefit the entire crypto sector. However, <\/span><span data-preserver-spaces=\"true\">XRP proponents should have somewhat realistic hopes<\/span><span data-preserver-spaces=\"true\"> due to the complexity of the legal process.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">What\u2019s New in the Lawsuit?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Despite Gensler\u2019s resignation, the tussle witnessed other <\/span><span data-preserver-spaces=\"true\">important<\/span><span data-preserver-spaces=\"true\"> developments since the beginning of 2025. In mid-January, the Commission <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/ripple-v-sec-case-takes-new-turn-agency-appeals-2023-decision-whats-next\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">filed<\/span><\/a><span data-preserver-spaces=\"true\"> its first opening brief as part of its appeal, insisting (once again) that Ripple\u2019s native token should <\/span><span data-preserver-spaces=\"true\">be classified<\/span><span data-preserver-spaces=\"true\"> as a security. A week later, the company <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/FilanLaw\/status\/1882765054053163328\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">requested<\/span><\/a><span data-preserver-spaces=\"true\"> a due date of April 16, 2025, for its brief.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Although the crypto industry has predominantly backed Ripple in the lawsuit, some financial institutions have <\/span><span data-preserver-spaces=\"true\">expressed support for<\/span><span data-preserver-spaces=\"true\"> the SEC. On January 22, the non-profit organization Better Markets <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/better-markets-files-amicus-brief-backing-sec-in-ripple-case\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">classified<\/span><\/a><span data-preserver-spaces=\"true\"> XRP as a security.<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cThe XRP tokens sold by Ripple Labs, Inc. (\u201cRipple\u201d) are investment contract securities regardless of whether investors acquired them directly from Ripple or indirectly on secondary trading platforms.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">And they are investment contracts regardless of the purchasers\u2019 level of sophistication. In all cases,\u00a0<\/span><span data-preserver-spaces=\"true\">investors were led<\/span><span data-preserver-spaces=\"true\"> to expect profits from the efforts of others, thus satisfying the third prong of the Howey test for investment contracts,\u201d its brief reads.\u00a0<\/span><\/p>\n<\/blockquote>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/important-ripple-v-sec-lawsuit-update-february-6\/\" rel=\"nofollow\">Important Ripple v. SEC Lawsuit Update February 6<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR The reassignment of Jorge Tenreiro and the resignation of SEC Chair Gary Gensler may signal a shift in regulatory approach, potentially leading to a faster and more favorable resolution in the Ripple lawsuit. Despite leadership changes, the SEC continues its legal fight against the company, recently filing an appeal and gaining support from Better [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-11710","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11710"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11710\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}