SEC Postpones Lawsuits, May Drop Ripple Case by April
The SEC is postponing actions against the prestigious crypto enforcement lawsuit, which could be a way to buy time to dismiss them. It has delayed the deadline for the Coinbase case but has not yet waived its biggest lawsuit.
Under Gary Gensler, the SEC sued Ripple, Kraken and other companies, but the commission currently has reduced demand for these actions. Its case against Ripple is a deadline for April, but by then, the SEC could change dramatically.
Will the SEC give up its chain reaction?
this Ripple and SEC casesStarting in December 2020, it is arguably the most influential crypto enforcement lawsuit with Gary Gensler as chairman. Now Gensler is gone, The committee is canceling priorities for the lawsuitbut it still has not formally waived the charges.
According to some people rumor From Capitol Hill, the SEC may be ready to do further:
“I’ve been told by multiple legal sources that the SEC has been prioritizing cases with the upcoming court deadline, which is an explanation for why we haven’t seen a request for suspension in Ripple and Kraken cases. Ripple’s Next Court The deadline is April 16, and it looks like Kraken is March 31,” said reporter Eleanor Terrett.
Specifically, seconds 30 days of extension required In the battle with Coinbase, but the chain reaction did not happen. The committee stated reduce Legal struggles have easier consequences, but XRP cases May have a profound impact on U.S. crypto regulation.
In other words, the SEC may not be ready to place it directly.
But by the time this April deadline expires, some changes to the SEC may give it more swing room to eliminate the ripple effect.
First, Mark Uyeda is just acting chair Paul Atkins has not passed his confirmation hearing. If the Senate formally approves Atkins, this could give him a firm task to make a controversial decision.
In addition, Congress There is the first ever crypto subcommitteeother legislative bodies are Actively investigate over-regulation. The discovery of such a body may help sell information that the SEC exceeds its jurisdiction over Sue Ripple.
Most importantly, President Trump can put his weight into his efforts. already, Doge Plans to Survey SECit gains power from the administration.
Will President Trump play a key role?
Last night, Trump and executives greatly upgraded his policies Order Direct supervision of federal regulators. If this was proposed by April, the U.S. president could simply force the SEC to abandon its Corrugated litigation.
“So-called independent agencies like the FTC and the SEC exercise tremendous powers over the American people without presidential supervision. These agencies have issued billions of dollars in rules and regulations and hint at some of the most controversial policy matters . Now they will no longer impose rules … there is no accountability,” Trump’s statement read.
The executive order has proven to be extremely controversial. It effectively centralizes federal authorities and the Supreme Court may strike.
Still, it illustrates many ways Trump can limit our crypto enforcement. The first suing of Ripple’s SEC has become a thing of the past, but the changes have not yet been fully merged.
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