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Ripple Vs SEC Lawsuit May Result In Settlement, Says Legal Expert

Press Releases Crypto News Bitcoinist Ripple Vs SEC Lawsuit May Result In Settlement, Says Legal Expert

In a closely watched legal battle that carries significant consequences for the crypto market, the lawsuit between Ripple and the US Securities and Exchange Commission (SEC) could be resolved through a settlement.

Intriguingly, the outcome of the case may be influenced by the potential change in the US presidency, which could lead to a shift in the regulatory environment surrounding the industry.

Ripple Case Update

Under Chair Gary Gensler’s leadership, the SEC has been actively cracking down on the crypto market, initiating lawsuits against major exchanges, firms, and participants.

This has created uncertainty regarding the legal status and classification of numerous crypto tokens within the industry. However, lawyer James Murphy, also known as “MetaLawMan,” suggests that a change in the regulatory environment against the industry may occur if the Democratic Party loses the presidency currently held by the Biden administration.

During an appearance on the ‘Thinking Crypto’ podcast, Murphy highlighted the possibility of a settlement in the Ripple case due to the 2024 election year and the potential for new management to take over the SEC.

Murphy emphasized the distinction between purchasing XRP and shares of a company like Amazon, with the latter categorized as a security. Murphy commended US District Judge Analisa Torres for granting Ripple a partial win and acknowledging the blockchain firm’s sale of XRP tokens to institutions as securities.

Murphy further noted that as the lawsuit progresses, the SEC and Ripple will likely appeal the court’s decisions. The SEC argues that many institutional sales were conducted outside its jurisdiction.

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Author: Ronaldo Marquez

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