With the arrival of 2025, the inauguration of the president-elect of the United States, Donald Trump, is getting closer and closer. The president is scheduled to take office on January 20. There are only two weeks left until the change of government and the entry of new officials is expected, including the president of the Securities and Exchange Commission (SEC), currently headed by Gary Gensler.
And just because Gensler is one of the officials who most opposed the cryptocurrency sector, his departure from the agency is one of the most desired, although the fact continues to generate uncertainty about the future, mainly due to the number of lawsuits that The agency filed against cryptocurrency companies during the Joe Biden government. This being the case of the cryptocurrency XRP, from Ripple Labs, one of the most talked about in the last 4 years.
But now, with the change of government and the imminent departure of Gensler, the situation is expected to be different. Last December, President Trump officially nominated Paul Atkins to lead the agency. This is a figure who has openly expressed his support for the cryptocurrency industry; Hence there is hope that many of the conflicts initiated by the SEC will cease, including that of Ripple Labs.
As CriptoNoticias has reported, the core of the current legal dispute between the SEC and the company Ripple Labs focuses on determining whether the XRP cryptocurrency qualifies as a security.
In 2020, the SEC accused Ripple of violating securities laws by selling XRP without proper authorization, claiming that it qualified as an unregistered security. This, while Ripple managers argue that XRP is a digital asset, comparable to a commodity or currency.
In July 2023, a US District Court ruled that XRP is not a security when sold on exchanges, but can be considered a security in institutional sales. The above means that XRP can be considered a security in certain circumstances, but not in others. A ruling that did not please the SEC, which filed an appeal last October, on the deadline established for this action.
The agency considers that the decision of federal judge Analisa Torres "conflicts with decades of Supreme Court precedents and securities laws." The measure is still ongoing and if the appeal is admitted, such a fact could significantly affect both XRP and the cryptocurrency market.
It is known in this regard that Gary Gensler's team plans to present a brief before January 15, 2025, shortly before President Trump's inauguration. The official, along with SEC trial attorney Jorge Tenreiro, is expected to file a new court action before Atkins takes office. This is a step that for some analysts could pose new challenges for Ripple.
In this regard, Amicus Curiae John E. Deaton reacted with fear to the imminent departure of President Gensler, stating that these January days before Trump's inauguration were too long. He believes the SEC chairman could continue to go after American cryptocurrency companies during his remaining days in office.
In fact, Ripple suffered a similar fate during the change of government in 2020, when the SEC filed its lawsuit just before Chairman Jay Clayton resigned from office. Anticipating this scenario, Deaton has even committed to investigating the regulatory onslaught deployed by the Biden administration in these four years, known as Operation ChokePoint 2.0. He is preparing to investigate what he calls "SEC excesses" and a possible "corruption plot between federal agencies" against the sector.
It must be taken into account that in this change of government there is an important difference. The incoming SEC chairman is a supporter of cryptocurrencies, as is much of the executive train coming with Trump, so it is very likely that they will end the era of SEC regulation through the application of its rules.
That is why, with the departure of Gensler - despite fears about the appeal - there is confidence that the support for cryptocurrencies of the incoming administration will alleviate the regulatory pressures that may remain pending for Riple and other companies.
Markets are optimistic that the revamped SEC could align with Trump's pro-cryptocurrency agenda, potentially concluding the Ripple case and other ongoing actions, such as those involving Coinbase.
This enthusiasm is shared by Ripple CEO Brad Garlinghouse, who on January 5 expressed his confidence in Trump and his team on X.
On this topic, on Tuesday, December 31, Ripple Chief Legal Officer Stuart Alderoty shared a wish list for the US ecosystem, calling for clear regulatory principles and no repeat of conflicts from previous years. In his message, the lawyer presented some of his ideas on how cryptocurrencies should be regulated.
On this topic, on Tuesday, December 31, Ripple Chief Legal Officer Stuart Alderoty shared a wish list for the US ecosystem, calling for clear regulatory principles and no repetition of conflicts from previous years. In his message, the lawyer presented some of his ideas on how cryptocurrencies should be regulated.
The cryptocurrency began this year with a sharp rise in price, trading at values close to $3. XRP's strong presence in the banking sector also positions it for long-term growth compared to other more speculative cryptocurrencies.
Source:Glenda González / Criptonoticias.
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