Is the SEC About to Drop the Ripple Case? Legal Expert Weighs In
The ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple Labs has been one of the most striking topics in the cryptocurrency world. Recently, there have been a hint that the SEC may suspend its lawsuit against Ripple, raising questions about the future of the case and the performance of the XRP market.
Legal experts like former SEC lawyer Marc Fagel have expressed uncertainty about the future of the SEC and Ripple case. Fagel noted that while the SEC is unlikely to give up the case altogether, resolving or suspending the case may be a possible outcome. The court has ruled that Ripple violated the law and the company was fined $125 million, meaning it is completely unlikely to withdraw the case.
“It’s hard to predict because it’s largely unprecedented; SEC enforcement has been historically apolitical and the ongoing enforcement actions due to political change are new things, it’s new things, and sets up horrible Precedent. But we obviously have to go in this direction,” Farger wrote.
SEC and Binance cases pause
The SEC’s recent joint motion and binance suspended legal cases for 60 days, which could affect the development of the ripple effect. The suspension request cited the formation of the SEC’s new crypto task force, which aims to provide clarity to the regulatory landscape of cryptocurrencies.
The SEC and Binance explained that the task force’s work could help resolve the case, suggesting that legal proceedings could be delayed, suspended or even abandoned altogether. This has led to speculation that similar motions may be filed in the future, which may suspend or even dismiss the SEC case against Ripple.
