Will the New SEC Administration Decide Not to Pursue the Appeal?
As the January 15th deadline approaches, the ongoing Ripple v. SEC case is generating heated discussion. Speculation surrounding the case has intensified, with many wondering what the final outcome will be. Prominent legal expert Jeremy Hogan recently stated that the case may be settled in April or May, which could lead to a favorable outcome for XRP holders. However, some have raised questions about why a settlement was needed if the SEC lost.
Former SEC lawyer Marc Fagel provides a clear explanation In this matter, explain that the SEC did not completely fail; rather, they partially won and partially failed. Both parties appealed the parts of the case they were unhappy with, which was their legal right. Fagel detailed that the court ruled in favor of the SEC, agreeing that Ripple illegally sold more than $700 million in unregistered securities, specifically in institutional sales, and fined Ripple $125 million for the violations.
Nonetheless, Ripple and the SEC are currently appealing various aspects of the case they lost. This resulted in the penalty being put on hold until the appeals process was resolved. Feigl noted that the new SEC administration may decide not to pursue further appeals, which could pave the way for a settlement based on the court’s previous ruling.
SEC under Paul Atkins:
President-elect Donald Trump has selected former SEC Commissioner Paul Atkins to be the next chairman of the SEC. Atkins, who served as SEC commissioner under President George W. Bush, will succeed outgoing SEC Chairman Gary Gensler, who is scheduled to leave office on January 20, 2025. Experts believe Atkins is a reliable and experienced choice because he understands the importance of regulation and oversight, particularly within the securities markets.
