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XRP Lawsuit News: Will Gensler’s Farewell Move Hurt Ripple in the SEC Lawsuit?
As the ongoing SEC vs. Ripple lawsuit gains momentum, a crucial development has come to light that could potentially impact the outcome of the case. The news is linked to Gary Gensler, who will be stepping down as the Chairman of the US Securities and Exchange Commission (SEC) by January 20th. While some speculate about the implications of his farewell move on Ripple’s lawsuit, others believe it may not have a lasting effect.
For those unaware, Judge Torres recently ruled that XRP is not a security in itself, with the classification depending on specific contracts or arrangements. This clarification has sent shockwaves throughout the cryptocurrency industry, leaving many wondering whether the SEC will file an appeal.
Jeremy Hogan, an attorney, has taken to Twitter to share his insights about Gensler’s impending departure and its impact on Ripple. Hogan posits that any last-minute moves by Gensler could potentially be inconsequential in the grand scheme of things. He emphasizes that Gensler’s actions are unlikely to have a lasting effect.
On the other hand, Marc Fagel, a former SEC official, suggests that the SEC has an obligation to file its opening brief unless there is a significant shift in leadership. According to Fagel, Gensler’s team lacks any real alternative but to continue with the appeal filing process despite potential changes in direction.
As we await the outcome of the SEC’s appeal decision, the cryptocurrency community remains optimistic about the future outlook for Ripple and XRP. Given the recent positive developments, there is hope that a more supportive regulatory environment may emerge.
Source: coinpedia.org
