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Ripple v. SEC Lawsuit News Update: Is a Resolution on the Horizon?
The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) has taken another turn, with significant leadership changes at the regulator’s end potentially paving the way for an amicable resolution.
In a recent twist, Gary Gensler stepped down from his position as Chairman of the SEC. His departure could be a crucial factor in determining the fate of this high-profile lawsuit. According to some experts, it is possible that Ripple may be waiting for Paul Atkins to take over the reins at the regulator before deciding its next move.
The former attorney general was appointed by President Donald Trump and has been pending Senate confirmation since then. Should he succeed in his nomination, he might potentially drop or reduce the previously ordered $125 million penalty on Ripple.
For those who may be unaware, it was Judge Torres that initially imposed this hefty fine for alleged violations of certain rules.
In a surprising move, the SEC recently reassigned one of its top crypto litigators, Jorge Tenreiro, to its IT division. The former director of the regulator’s Internet Enforcement Office, John Reed Stark, suggests that this change could be a reason why the Commission might soon pause or fully withdraw all of its appeals against other crypto entities.
Anthony Scaramucci, a former White House official, has also joined the conversation around Ripple and SEC, stating that the agency has already dismissed similar cases. However, it is essential to note that there is no official confirmation regarding a settlement between the two parties.
A number of legal experts are skeptical about the ease with which this dispute will be resolved, as they deem it far more complicated than others involving the regulator and crypto companies.
“The SEC broke up with Coinbase after a couple of dates. Ripple and the SEC live together and have a baby,” said US lawyer Jeremy Hogan in his analysis.
In light of these new developments, many are left wondering if a resolution is indeed imminent for this protracted legal battle.
Source: https://cryptopotato.com/ripple-v-sec-lawsuit-news-update-is-a-resolution-on-the-horizon/
