SEC and Ripple $2.3 The long-running lawsuit between the two is once again at the forefront of the agenda. The U.S. Securities and Exchange Commission (SEC) has until January 15 to file an opening statement in the Ripple case. However, the possibility of Paul Atkins being appointed as the new chairman of the SEC has created a new wave of expectations in the cryptocurrency market.
Appointment of Paul Atkins as SEC Chairman Changes the Odds
The appointment of Paul Atkins, known as a cryptocurrency-friendly name, as SEC chairman has the potential to completely change the course of the Ripple case. Pro-XRP lawyers Jeremy Hogan, Fred Rispoli and Bill Morgan state that Atkins’ appointment will significantly increase the chances of the case being dismissed.
“There are significant signals that Paul Atkins, as SEC chairman, may drop the Ripple case,” Jeremy Hogan said on the subject. It is predicted that this transformation may lead to a positive increase in XRP prices.
The completion of the ethics investigation against SEC Chief Financial Officer Bill Hinman was also a remarkable development. Ripple’s legal chief Stuart Alderoty stated that this investigation could increase transparency in the SEC and eliminate Hinman’s influence. “It is critical for the new administration to break Hinman’s influence to restore confidence in the SEC,” Alderoty said.
January 15 is the Critical Date in the Ripple Case
The SEC must file an opening statement in the Ripple case by January 15. The approach of this date has increased speculation on the future of the case. In particular, it is being discussed that Gary Gensler may make one last move against Ripple before leaving office as SEC Chairman.
On the other hand, Ripple CEO Brad Garlinghouse and his team are preparing to respond to the SEC in April. It is stated that the new SEC administration may allow XRP to receive ETF approval by ending the Ripple case.
Most experts predict that the new SEC administration will drop the Ripple case and adopt a friendlier attitude towards the US cryptocurrency market. These views form a chain of indicators that support a potential increase in XRP prices.
The outcome of the Ripple case has an importance that may affect not only XRP prices but also the future of the entire cryptocurrency market. Investors continue to follow these critical developments closely.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
