Regulation
Why The US SEC Hasn’t Paused Its Case Against Ripple
There have been speculations on why the XRP lawsuit involving the US Securities and Exchange Commission (SEC) and Ripple hasn’t been puased like the Binance and Coinbase case. Now, FOX Journalist Eleanor Terrett has provided insights into why the Commission hasn’t asked for a pause in its long-running legal battle against the crypto firm.
XRP Lawsuit: Why The Ripple SEC Case Isn’t Yet On Hold
In an X post, Terrett provided insights into why the XRP lawsuit is still ongoing with the SEC, and Ripple yet to request a pause. Citing multiple legal sources, she revealed that the Commission has been prioritizing cases with imminent court deadlines.
The journalist noted that this could explain why there hasn’t been a pause request in the Ripple SEC case. She further remarked that Ripple’s next court deadline is April 16, when the crypto firm has to file its opening brief.
Therefore, the SEC and Ripple may not be in a hurry to file a request for a pause in the case since the next deadline is still far off. This is unlike the SEC’s against Coinbase, in which the Commission filed a request for an extension on the deadline for it to respond to the exchange’s request to leave to file an interlocutory appeal.
Meanwhile, prior to that, the SEC and Binance had also agreed to a 60-day pause on their legal battle to give them time to explore a possible settlement.
Regarding the XRP lawsuit, Terrett also opined that the SEC leadership may be expecting the US Senate to confirm Donald Trump’s nominee for the SEC Chair, Paul Atkins, before the next deadline in the Ripple SEC case.
She added that, in the meantime, the crypto task force, Congress, and the Presidential Working Group on Digital Assets are presumably working to fill the regulatory gaps that caused these lawsuits in the first place.
Former SEC Lawyer Makes Bold Prediction
Before now, former SEC lawyer John Reed Stark had predicted that the XRP lawsuit might end soon. He made this prediction while alluding to the pause in the Commission’s case against Coinbase.
According to him, the SEC’s appeal against Ripple will likely pause soon, just like the Coinbase and Binance cases. The legal expert asserted that the Commission’s crypto enforcement is “as dead as Julius Caesar.” In line with this, he remarked that the Commission would pause or, even more likely, withdraw all crypto-related appeals, including the Ripple case.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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