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Ripple v. SEC Lawsuit Update March 9th
As the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) continues to unfold, new insights have emerged regarding a potential resolution or settlement of the dispute. According to recent comments from attorney Fred Rispoli, Ripple might be waiting for Paul Atkins to take over as Chairman of the SEC before either dropping the appeal or reducing the $125 million penalty imposed by Judge Torres.
The current leadership under Mark Uyeda has previously demonstrated support for the cryptocurrency sector. Nevertheless, some experts believe that Ripple may be holding out in anticipation of a more favorable outcome with a new chairman at the helm. The notion is intriguing given the agency’s shift in approach since Gary Gensler stepped down as Chairman.
Ripple had initially agreed to settle the dispute but was met with an SEC appeal. While the fine represents a mere fraction of the original $2 billion demand, Ripple still faces reputational damage from the findings that it breached certain laws. However, XRP holders could potentially benefit from the outcome, according to James Murphy, another attorney involved in the case.
Anthony Scaramucci, a former White House official, went against this notion, stating that he believes the lawsuit has already been dropped along with other similar cases the SEC has dismissed or paused recently. This opinion was shared by Scott Melker, also known as The Wolf of All Streets.
In light of these developments and ongoing speculation, it is crucial to monitor any further updates on the situation.
Source: https://cryptopotato.com/ripple-v-sec-lawsuit-update-march-9th/
