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coinpedia 2024-11-29 04:11:52

XRP Lawsuit: Legal Expert Shuts Down Claims of Fast-Tracking Final Ruling, Says ‘Not SEC vs Ripple’

The post XRP Lawsuit: Legal Expert Shuts Down Claims of Fast-Tracking Final Ruling, Says ‘Not SEC vs Ripple’ appeared first on Coinpedia Fintech News The legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) continues, despite some recent developments. Ripple has recently gained attention as it was claimed that a U.S. court approved its request to fast-track the final judgment in the XRP lawsuit. This decision could mean the case, which has been dragging on for years, might end sooner and some even believed the timing is important, especially with SEC Chair Gary Gensler stepping down in January. However, legal expert Bill Morgan clarified that this approval is not related to the SEC’s enforcement action against Ripple. He pointed out that the request pertains to a California private civil lawsuit, not the official SEC vs. Ripple case. Will SEC Vs Ripple Be Dismissed? Recently, there has been renewed hope in the Ripple community following the announcement that SEC Chair Gary Gensler will step down in January. Ripple supporters hope that his departure may lead to the case being dropped. Some legal experts, including Chris Giancarlo, believe the SEC may eventually abandon the case against Ripple. He suggested that it would be wise for the SEC to drop cases like this after losing, and that the focus should shift away from XRP’s status as a security. Others, like lawyers Fred Rispoli and Jeremy Hogan, speculate that the SEC could reduce penalties and settle the case. In addition to the legal developments, there’s increasing interest in XRP exchange-traded funds (ETFs). Firms like WisdomTree, Bitwise, and Canary Capital have filed applications for XRP ETFs, hoping to create a regulated investment option for XRP. However, the SEC has not yet approved any XRP ETF proposals. Conclusion: As Ripple’s legal battle continues, the cryptocurrency community is watching closely to see if political changes under a potential Trump administration might lead to a more favorable environment for XRP and other cryptocurrencies.