Ripple vs. SEC: Will This Week Bring a Legal Soap Opera? 🎭

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TL;DR

  • The SEC’s February 27 meeting may address Ripple’s XRP, signaling a potential pro-crypto shift under Chairman Mark Uyeda.

  • Unlike recent SEC agreements, the Ripple lawsuit is more complex. Experts predict a settlement, with Judge Torres overseeing compliance with a $125M fine.

XRP on the Agenda

The saga of Ripple and the US Securities and Exchange Commission (SEC) drags on like a winter’s night, stretching over four long years. Yet, whispers of resolution flutter through the air like autumn leaves. One such whisper is the regulator’s Sunshine Act meeting on February 27, a gathering cloaked in secrecy, where the fate of many matters will be deliberated.

Some X users, those digital prophets of our time, have proclaimed that Ripple’s native token will grace the agenda this time. The analyst known as ALLINCRYPTO has boldly declared that the SEC will focus on Bitwise’s application for a spot XRP exchange-traded fund (ETF) in the United States. A true spectacle, indeed!

It’s worth noting that the Commission has already acknowledged the company’s filing, which means they must either bless or banish this product within 240 days. A potential green light would be a delightful twist in the tale, signaling a pro-crypto renaissance since the departure of Gary Gensler, the former Chairman known for his frosty demeanor towards the digital realm. He resigned on January 20, leaving Mark Uyeda to steer the ship.

Under this new captaincy, the agency has cast aside several lawsuits, including those against Coinbase and Uniswap, while the case against Binance has been put on ice for 60 days. The XRP Army, ever hopeful, believes their beloved company might soon emerge victorious from this legal labyrinth.

Not Like the Rest

It is crucial to recognize that the Ripple v. SEC lawsuit is a beast of a different nature, far more intricate than the other skirmishes involving the Commission and crypto entities. One insightful voice in this cacophony is the esteemed US lawyer Jeremy Hogan, who quipped:

“The SEC broke up with Coinbase after a couple of dates. Ripple and the SEC live together and have a baby,” the attorney stated.

Hogan, with a twinkle of wisdom, believes that dismissing the case against Ripple is as likely as finding a unicorn in Times Square. Instead, he predicts a settlement. Eleanor Terrett, a journalist at Fox Business, concurs, noting that Judge Torres has already imposed a $125 million fine on the company for certain transgressions. She added that the magistrate can keep a watchful eye until August 7 “to ensure the terms of the order are met.”

Recall that Ripple’s leaders were prepared to pay the penalty, but the SEC, in a twist worthy of a Shakespearean drama, appealed. This was hardly surprising, as the amount was but a mere drop in the ocean compared to the $2 billion the watchdog initially sought.

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2025-02-26 22:26