Unresolved Disputes in Cryptocurrency Regulation: Implications of New Administration

XRP Lawsuit News: Michael Saylor Dodges Question About Ripple Vs SEC

There’s growing speculation that the SEC vs. Ripple case could be resolved under the President-elect Donald Trump’s administration. SEC’s current chair Gary Gensler is set to step down on January 20. Trump has nominated Paul Atkins, a cryptocurrency advocate, as the next chairman.

The SEC claims Ripple violated securities laws by issuing XRP. Some of the XRP issuance was considered a security, while other parts were not. The SEC is appealing the ruling, and with a new SEC administration under Trump, there’s speculation on whether the case will be dropped.

After Patrick Bet David asked MicroStrategy’s Michael Saylor, “The community with XRP & Ripple, has anything changed since you and I were last together?” Saylor shared his view and stated that he believes the current administration is supportive of crypto, particularly Bitcoin, and focused on freedom. He also emphasized the need for a digital assets framework that defines various crypto categories clearly, from digital currencies to NFTs and tokenized assets.

Saylor predicted significant growth for digital assets in the U.S., stating that “I think you’ll have a pro-digital assets SEC, a pro-digital assets Treasury, a pro-digital assets White House, and a pro-digital assets House & Senate.”

However, many users and XRP enthusiasts noticed how Saylor dodged the question about Ripple vs. SEC. A user commented, “He literally didn’t answer the question which tells us exactly how he’s feeling.”

Source: coinpedia.org