TL;DR
- Ripple supporters are optimistic about potential SEC leadership changes, including departures of anti-crypto officials.
- Donald Trump’s nomination of pro-crypto advocate Paul Atkins as the next SEC Chairman fuels speculation that the agency may adopt a more innovation-friendly approach, possibly leading to a settlement in the case against Ripple.
The XRP Army Cheers the Rumors
Despite Ripple’s numerous partial court wins, the legal battle against the US Securities and Exchange Commission (SEC) remains ongoing. The tussle was close to a final resolution earlier this year when Federal Judge Torres ordered the company to pay a $125 million penalty for violating certain laws.
While Ripple was ready to abide by the ruling, the securities regulator appealed a 2023 verdict, thus extending the case. After all, the aforementioned fine represented just a fraction of the $2 billion that the SEC initially insisted.
According to some industry participants, though, Ripple has a better chance to emerge victorious due to a combination of factors. Perhaps the most important include the upcoming resignation of the SEC’s Chairman Gary Gensler. He stayed in charge for over three years, during which the agency filed numerous lawsuits against crypto businesses.
The end of his reign was rather expected since Donald Trump promised to fire him after officially becoming president of the United States.
Most recently, the Ripple community celebrated another potential change in the structure of the SEC. According to Eleanor Terrett (journalist at Fox Business), Commissioner Caroline Crenshaw will not be renominated to her position. She is known for her anti-crypto stance, warning about the potential for fraud and manipulation in the sector. Earlier this year, Crenshaw even opposed the approval of the spot Bitcoin (BTC) ETFs.
Those cheering her potential absence from the SEC include popular X users like Moon Lambo and Zach Humphries. Fred Rispoli – an American attorney who has been following the developments of the Ripple v. SEC case – also seemed pleased.
The New SEC Leader
The Commission might indeed go into a pro-crypto direction next year under the leadership of the upcoming Chairman, Paul Atkins, who was nominated by Donald Trump. He has been a proponent of the cryptocurrency sector, advocating for a regulatory approach that fosters innovation in space while ensuring investor protection.
It will be interesting to see whether the SEC will become less hostile toward the industry during his reign and whether the Ripple case will finally conclude with a settlement.
