$XRP

SEC Expected to Drop Ripple Lawsuit Under Donald Trump

Chris Giancarlo, the former chairman of the Commodity Futures Trading Commission, predicts that the commission may drop its lawsuit against Ripple if Donald Trump becomes president of the United States.

SEC May Drop Ripple Lawsuit

During an interview with FOX Business, Giancarlo expressed confidence that the Securities and Exchange Commission (SEC) may drop its lawsuit against Ripple. He suggested that the commission should consider ending cases it has already lost in court.

When host Charles Gasparino asked if the SEC would drop Ripple’s lawsuit under Trump, Giancarlo said, “I would bet on it.”

The comments suggest that new SEC leadership may revisit the Ripple case based on a previous court ruling from last year. The initial ruling was issued by the lower court in August.

Current Status of the SEC Appeal

In the previous ruling, the court held:

Institutional sales of XRP were classified as securities,

Other distributions and programmatic sales of XRP were not,

XRP itself is not a security.

Following the ruling, the SEC filed an appeal, seeking to overturn the parts of the ruling that it lost.

To be continued🔻