YEREVAN (CoinChapter.com) — The Ripple v. SEC lawsuit has continued for more than four years, but recent developments suggest a pause may be imminent. John Reed Stark, a former SEC enforcement official, indicated that the SEC appeal against Ripple might be withdrawn, following the pattern seen in other crypto-related lawsuits.
SEC Pauses Crypto Lawsuits: Coinbase and Binance Cases on Hold, Ripple Appeal Likely Next. Source: John Reed StarkStark referenced the Binance lawsuit, where both parties requested a 60-day pause to reassess the case. This delay allows for a joint status report to determine if an extension is necessary.
A similar pause is now affecting the Coinbase lawsuit. On Friday, the SEC informed the Second Circuit that its Crypto Task Force may lead to a resolution in the case against Coinbase, prompting the agency to delay its response to Coinbase’s appeal regarding securities laws. A three-page joint motion confirmed that the SEC’s review of crypto-related issues is still ongoing, and an extension would allow for a more appropriate review.
The motion argued that the work of the SEC’s Crypto Task Force to develop a new regulatory framework could affect the outcome of the case.
Fox Business journalist Eleanor Terrett noted that similar actions could follow for other non-fraud cases like the Ripple lawsuit, the Coinbase lawsuit, and the Kraken lawsuit.
SEC and Binance Agree to 60-Day Stay as Crypto Lawsuits Face Major Shifts. Source: Eleanor TerrettSEC Reassigns Key Crypto Litigator
A recent SEC enforcement decision raised further questions about the agency’s approach to crypto cases. Jorge Tenreiro, a senior SEC trial lawyer involved in the Ripple lawsuit, was transferred to the SEC’s IT department.
Tenreiro had previously played a role in cases against Coinbase and Binance. His absence from new filings related to those lawsuits suggests a shift in SEC crypto litigation strategy.
Stark noted that Tenreiro was responsible for signing the SEC’s notice of appeal in the Ripple lawsuit. His reassignment could indicate an internal decision to reduce legal pressure on crypto firms.
Will Ripple Settle Before an XRP ETF Approval?
Legal experts have also speculated on the timeline of a Ripple settlement. Jeremy Hogan, an attorney following the case, suggested that the lawsuit may conclude before the approval of a spot XRP ETF in the US.
“Not because it has to happen in that order, but because the ETFs will just take longer to dot the i’s and cross the t’s,”
Hogan stated.
Jeremy Hogan Discusses XRP Lawsuit Settlement and ETF Approval Timelines. Source: XSeveral firms, including Grayscale, WisdomTree, Bitwise, and 21Shares, have expressed interest in launching an XRP ETF. According to Polymarket odds, there is a 78% chance that the SEC will approve such an investment product before 2025 ends.
Polymarket Predicts 78% Chance of XRP ETF Approval by 2025 Amid SEC Developments. Source: PolymarketThe Ripple v. SEC lawsuit remains unresolved, but changes in SEC enforcement and legal strategies suggest that a pause or settlement could be approaching.
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