{"id":12694,"date":"2025-02-12T14:17:11","date_gmt":"2025-02-12T14:17:11","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12694"},"modified":"2025-02-12T14:17:11","modified_gmt":"2025-02-12T14:17:11","slug":"when-will-the-ripple-lawsuit-end-lawyer-predicts-secs-next-move","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12694","title":{"rendered":"When Will The Ripple Lawsuit End? Lawyer Predicts SEC\u2019s Next Move"},"content":{"rendered":"
\n

The lawsuit between Ripple Labs and the Securities and Exchange Commission (SEC) may be poised for a significant turning point under the agency\u2019s new leadership. With Donald Trump once again occupying the White House, Paul Atkins has been nominated as the new SEC Chairman, succeeding Gary Gensler. Industry observers and legal experts are closely watching for signals on whether the acting chair Mark Uyeda and commissioners, including Hester Peirce, plan to modify the SEC\u2019s enforcement stance on cryptocurrencies.<\/p>\n

Ripple Vs. SEC: What Will Happen Next?<\/h2>\n

A recent development in the Binance vs. SEC lawsuit provides a possible glimpse into how the Commission might handle the Ripple litigation going forward. On Monday, Binance and the SEC filed a joint motion<\/a> in the US District Court for the District of Columbia seeking a 60-day stay\u2014an action that, if granted, would temporarily halt proceedings the agency initiated two years ago under then-Chairman Gensler.<\/p>\n

According to the joint filing, \u201cThe Commission approached counsel for Binance to request a stay, citing the establishment of its new Crypto Task Force as a reason to allow time for potential resolution discussions.\u201d The filing marks the first major crypto enforcement pause since Mark Uyeda<\/a> assumed the role of acting chair while the Senate finalizes the confirmation of Paul Atkins.<\/p>\n

Crypto lawyer James \u201cMetaLawMan\u201d Murphy, who serves as a financial services lawyer at Ludlow Street Advisors, LLC, sees the proposed 60-day stay as an indication of how the SEC might proceed with other high-profile crypto cases\u2014potentially including the closely watched lawsuit against Ripple Labs. In a statement<\/a> via X, Murphy remarked: \u201cThe 60 day stay of the binance case might indicate that Hester Peirce & Mark Uyeda want to wait until Paul Atkins is confirmed as Chairman of the SEC before they dismiss crypto cases.\u201d<\/p>\n

Murphy\u2019s comment came in response to an observation from XRP community member Ashley PROSPER (@AshleyPROSPER1), who had stated: \u201cXRP Community: The SEC and Binance have filed a joint motion for a stay in the case, citing the new Crypto Task Force as a potential avenue for resolution. With that great news, I expect the Ripple case should be concluded soon.\u201d<\/p>\n

Murphy also noted that the SEC has recently sought more time in other crypto-related cases. Earlier today, the Commission was granted a 30-day extension to respond to DRW\u2019s motion to dismiss a case related to the firm\u2019s crypto trading activities.<\/p>\n

\u201cMore delays incoming in SEC crypto cases,\u201d Murphy posted. \u201cEarlier today, the SEC was granted a 30 day delay of its deadline to respond to DRW\u2019s motion to dismiss the case. The SEC cited the creation of the Crypto Task Force as a rationale for the delay\u2014just like in Binance.\u201d<\/p>\n

In mid-October 2024, the SEC filed a lawsuit against Cumberland DRW<\/a>, a crypto asset market maker that traded for its own account as principal. The agency alleges that DRW\u2019s crypto-related trading should have been conducted under a securities dealer registration. DRW moved to dismiss the case, and the SEC\u2019s request to extend its response deadline suggests enforcement actions involving non-fraud crypto lawsuits could face slowdowns or strategic holds while the new Crypto Task Force\u2019s mandate is clarified.<\/p>\n

Eleanor Terrett, a Fox Business journalist covering crypto regulatory affairs, also commented<\/a> on the Binance filing: \u201cHere\u2019s the first requested pause on crypto litigation in the courts since Mark Uyeda took over as acting chair. [\u2026] I expect we\u2019ll see other non-fraud cases (i.e. Ripple, Coinbase<\/a>, Kraken and others) follow suit in this manner.\u201d<\/p>\n

Terrett\u2019s remarks echo the views of many within the crypto sphere, who see the creation of a new Crypto Task Force as a turning point in how the SEC enforces regulations against digital assets.<\/p>\n

As of this writing, there is no official confirmation on whether the Ripple case will mirror the Binance pause or be otherwise affected by the same Task Force considerations. Still, the request for additional time in multiple enforcement actions has renewed optimism among XRP holders and some legal experts that a comprehensive resolution may be on the horizon.<\/p>\n

At press time, XRP traded at $2.40.<\/p>\n

\"XRP<\/div>\n","protected":false},"excerpt":{"rendered":"

The lawsuit between Ripple Labs and the Securities and Exchange Commission (SEC) may be poised for a significant turning point under the agency\u2019s new leadership. With Donald Trump once again occupying the White House, Paul Atkins has been nominated as the new SEC Chairman, succeeding Gary Gensler. Industry observers and legal experts are closely watching […]<\/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-12694","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\/12694","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=12694"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12694\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}