Expert Weighs in on Ripple Lawsuit Outcome After January 20
The Blockchain Association’s Ron Hammond shared some thoughts on the future of the SEC under Paul Atkins. In an interview with Thinking Crypto’s Tony Edwards, Hammond expressed optimism when asked whether the SEC might drop some non-fraud cases, such as the ongoing Ripple lawsuit.
He believes that there could be a push for cases like Ripple’s to be resolved quickly, allowing the industry to move forward. However, he said it was unclear how Atkins would handle the current litigation. Still, there are hopes the new leadership will speed up settlements and resolve cases that have dragged on in court for too long.
Will there be clearer regulation in the future?
Hammond also said clearer regulations are expected under Atkins’ leadership, although there are no guarantees. The SEC may finally resolve some high-profile cases and provide the much-needed regulatory transparency the crypto industry has been waiting for. In addition to SEC action, legislation can also play a role in providing clearer guidance for the industry. However, this will take time and the results remain uncertain.
Paul Atkins: Next SEC Chairman
Paul Atkins is expected to be confirmed as the next SEC chairman by the end of January. He is currently processing paperwork and hearings on his nomination will be held in the coming weeks. Hammond speculated that Atkins could appear before the Senate Banking Committee next week or the week after. A key issue during these hearings will be the stance of Senator Elizabeth Warren, an outspoken critic of cryptocurrencies. The extent of Warren’s focus on cryptocurrencies during these hearings could influence the SEC’s approach to the industry for years to come.
What’s next for the SEC?
Hammond believes Atkins is viewed as a non-controversial pick, meaning his confirmation should move forward smoothly. Once confirmed, Atkins will work alongside key SEC staffers such as Hester Peirce and Mark Uyeda, who have advocated for clearer regulation for years. With Atkins in place, the SEC will finally provide much-needed clarity to the cryptocurrency industry and work with Congress to pass meaningful legislation.
