Ripple’s ongoing legal battle with the Securities and Exchange Commission (SEC) might be nearing its end, according to former Commodity Futures Trading Commission (CFTC) Chair Chris Giancarlo, who predicts that the SEC will drop the case. A resolution is more likely under the leadership of Gary Gensler’s successor.
Ripple has been accused of raising $1.3 billion through an unregistered securities offering with its native cryptocurrency, XRP, in December 2020. However, a July 2023 ruling by Judge Torres found that some XRP transactions did not qualify as securities sales. Giancarlo, who has been critical of Gensler’s leadership, suggests creating a “crypto council” to establish a coordinated approach to crypto policy under the Trump administration.
Potential scenarios for the legal battle under new leadership include the commission dismissing all non-fraud crypto lawsuits and Ripple settling the lawsuit for the previously ruled $125 million, as suggested by attorneys Jeremy Hogan and Fred Rispoli.
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<p>The post Ripple vs. SEC: New Leadership and Potential Scenarios first appeared on CoinBuzzFeed.</p>
