Ripple vs. SEC: Giancarlo Predicts XRP Win Amid January 15 Deadline
- SEC must submit final Ripple arguments by January 15, 2025.
- Gary Genslers resignation sparks speculation about the Ripple case outcome.
- Ripples cross-appeal seeks to solidify XRPs non-security status.
Giancarlo predicts the Trump administration will likely drop the SECs case against Ripple. With the incoming administration and prior court rulings favoring XRP, Ripples legal position seems stronger than ever. This could mark a major shift in crypto regulation.
SEC Faces Tight Deadline as Ripple Cross-Appeal Intensifies
Trump is likely to halt SECs Ripple case, says crypto regulation expert Giancarlo. Giancarlo said in an interview with FOX Business,
There are things that have already been ruled and, if not changed in the ruling, they can radically change the way that crypto oversight operates under new SEC leadership.
In the Ripple case, the SEC has until January 15, 2025, to make its final submission. The agencys appeal followed a lower court ruling that found XRP to be a non-security. Ripple cross-appealed the SECs claims, further strengthening its defense against the agencys allegations.
Ripples legal team has expressed confidence in their position, describing the earlier court ruling as a significant victory. The company continues to challenge the SECs claims and seeks a final determination in the case. This demonstrates Ripples commitment to achieving clarity on the classification of digital assets.
Genslers Departure Sparks Speculation About Case Resolution
Gary Gensler is set to resign as SEC Chair on January 20, 2025, five days after the January 15 deadline. Under Genslers leadership, the SEC has taken a strict stance on cryptocurrency regulation, including its actions against Ripple. His resignation, along with the possibility of new leadership at the SEC, could signal a shift in regulatory enforcement.
Genslers departure has fueled speculation about the outcome of the case. Some industry experts suggest that the incoming administration may drop the lawsuit due to a potentially softer regulatory stance. They argue that continuing the case is unnecessary, especially after the trial court ruled in Ripples favor.
Ripple Case Could Redefine Crypto Regulation
The Ripple case has the potential to reshape the regulatory framework for digital assets in the United States. The final ruling will offer much-needed legal clarity on whether XRP and other cryptocurrencies qualify as securitiesa decision of great importance to industry stakeholders and regulatory agencies alike.
This case underscores the growing intersection of innovation in the crypto industry and regulatory enforcement. Analysts note that its outcome could influence the SECs approach to cryptocurrency regulation and its future actions against digital assets. As the January 15 deadline approaches, the Ripple case remains a pivotal moment for the cryptocurrency industry and regulators.
Read more: https://www.tronweekly.com/giancarlo-predicts-ripple-xrp-win-against-sec/
Text source: TronWeekly
