XRP Lawsuit News: Will the New SEC Administration Decide Not to Pursue the Appeal?

The ongoing Ripple vs. SEC case has been generating buzz as the January 15 deadline approaches. Speculation surrounding the case has intensified, with many wondering how it will ultimately play out. Jeremy Hogan, a well-known legal expert, recently suggested that the case might settle in April or May, which could lead to a favorable outcome for XRP holders. However, some have raised questions, asking why a settlement is necessary if the SEC lost the case.

Former SEC attorney Marc Fagel provided clarity on the matter, explaining that the SEC did not lose entirely; rather, they won in part and lost in part. Both parties have appealed the portions of the case they were dissatisfied with, as is their legal right. Fagel elaborated that the court ruled in favor of the SEC by agreeing that Ripple had illegally sold over $700 million in unregistered securities, particularly in institutional sales, and imposed a $125 million penalty on Ripple for the violation.

Despite this, both Ripple and the SEC are currently in the process of appealing the aspects of the case they lost. This has led to the penalty being put on hold until the appeal process is resolved. Fagel noted that the new SEC administration may decide not to pursue the appeal further, potentially paving the way for a settlement in line with the court’s previous ruling.

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SEC Under Paul Atkins:

President-elect Donald Trump has selected Paul Atkins, a former SEC Commissioner, to become the next chair of the SEC. Atkins, who served as an SEC commissioner under President George W. Bush, will replace the outgoing SEC Chair gary gensler gary gensler Gary Gensler is the chairman of the U.S. Securities and Exchange Commission (SEC). His studies in finance and blockchain at MIT have helped him develop U.S. cryptocurrency regulations and policies. Quick Facts Full name Gary Scott Gensler Birth 18-10-1957, Baltimore, Maryland, United States Nationality American Education MBA from the University of Pennsylvania Marital status Married to Francesca Danieli (1986-2006) Net worth Estimated $100 million   Gensler has advocated for enhanced supervision of digital assets, seeking to regulate cryptocurrencies similar to securities. His work at the SEC has focused on safeguarding investors, regulating crypto exchanges, and establishing stablecoin policies.   Gary Gensler - Career Highlights 1997 – Became Assistant Secretary of the Treasury. 2009 – Led CFTC, regulating financial derivatives post-2008 crisis. 2018 – Taught blockchain and crypto at MIT. 2021 – Appointed SEC Chairman, focusing on crypto regulations. 2022 – Proposed stricter rules for crypto exchanges. 2023 – Took legal action against major crypto firms. 2024 – Advocated for stronger stablecoin and DeFi regulations.   Gary has collaborated with multiple lawmakers in formulating crypto policies. Even with disagreements with crypto investors regarding crypto policies, he continues to be a key player in the changing dynamic between regulatory frameworks and blockchain advancement.   Awards & Recognitions of Gary Gensler Year Institution  Description 2009 U.S. Treasury Financial Regulation Leader 2018 MIT Blockchain & Crypto Educator 2021 SEC SEC Chairman Overseeing Crypto Policies 2023 Bloomberg Most Influential Regulator in Crypto 2024 Forbes Top Policy Maker in Digital Assets   Useful Links to Connect With Gary Gensler Platform Link X (formerly Twitter) twitter.com/GaryGensler CFTC website Chairman Gary Gensler   Chairman who is set to depart on January 20, 2025. Experts believe that  Atkins is a solid and experienced pick because he understands the importance of regulation and oversight, particularly within the securities market.