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XRP News: Lawyer Highlights US SEC’s Pivot on Coinbase Case
Pro-XRP lawyer James Murphy, also known as MetaLawMan, has shed light on the US Securities and Exchange Commission’s (SEC) potential shift in its stance on crypto lawsuits. His insights, particularly on the agency’s recent pivot in the Coinbase case, have sparked discussions on what lies ahead for the Ripple vs SEC lawsuit.
When Can the US SEC Start Dropping the Crypto Cases?
A key factor influencing these decisions is the SEC’s leadership uncertainty. With no Senate-confirmed chairman, Murphy expects a new chair to be appointed by March or April. For context, when an X user questioned when the agency could start dropping the cases and what’s stopping them from such a move, Murphy said:
“No Senate-confirmed Chairman yet. Probably March or April time frame. Paul Atkins may be one of President Trump’s least controversial nominations.”
This indicates that the SEC could start dismissing or settling the cases once a Senate-confirmed chair, possibly Paul Atkins, takes the SEC role. However, he also noted that “the Commissioners must take a vote to settle or dismiss a case. Right now, there are 3 Commissioners, so Hester Peirce and Mark Uyeda have the votes to take action on cases.”
This suggests that decisions regarding crypto lawsuits could still move forward despite the absence of a permanent chair. Besides, the SEC crypto task force’s latest push towards clear regulations has further fueled market sentiments.
What’s Next for the XRP Lawsuit?
The Ripple lawsuit has been a focal point in the crypto community, especially after reports surfaced that the SEC removed it from its website. Sherrie, a well-known XRP community attorney, dismissed settlement rumors, clarifying that the case is now listed under the Court of Appeals website due to its new case number.
Ripple is set to submit its appeal-related brief by April 16. XRP attorney Jeremy Hogan also suggested that the SEC may drop or withdraw the case by April or May, aligning with the expected appointment timeline of a new chair.
Will the SEC Drop Ripple’s Case?
While some experts believe the SEC’s shift in the Coinbase case could hint at a similar approach for Ripple, others remain skeptical. Sherrie argued that an acting chair is unlikely to make a major decision like dropping the lawsuit.
However, when an X user asked for an “update on the Ripple vs SEC appeal”, MetaLawMan said that it is “still chugging along.” He also highlighted that Ripple’s brief is due on April 16. Having said that, many are speculating a potential conclusion in the XRP lawsuit with the new US SEC chair in April.
Conclusion
In conclusion, the SEC’s pivot in the Coinbase case has sparked speculations about its potential shift in the Ripple vs SEC lawsuit. While some experts believe the agency may drop or settle the case, others remain skeptical. The appointment of a new chair, possibly by March or April, could influence these decisions.
FAQs
- Q: When can the US SEC start dropping the crypto cases?
A: The SEC may start dropping or settling the cases once a Senate-confirmed chair, possibly Paul Atkins, takes the SEC role.
Q: What is the current status of the Ripple vs SEC lawsuit?
A: The case is still ongoing, with Ripple set to submit its appeal-related brief by April 16.
Q: Will the SEC drop Ripple’s case?
A: While some experts believe the SEC may drop the case, others remain skeptical. The appointment of a new chair could influence these decisions.
Q: When can we expect a conclusion in the XRP lawsuit?
A: Many are speculating a potential conclusion in the XRP lawsuit with the new US SEC chair in April.
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