SEC May Drop Ripple Case in April
Date: 2025-02-21 Author: Oliver Abernathy Categories: BUSINESS
The lawsuit between the US Securities and Exchange Commission (SEC) and Ripple has been ongoing since December 2020 and is considered one of the most high-profile during Gary Gensler's tenure. However, after his departure, the regulator has seen a decline in interest in the case. Recently, all materials related to the lawsuit against the crypto project disappeared from the SEC's official website.
The charges have not been formally dropped, but some analysts believe that the SEC may take such a step in the near future. FOX journalist Eleanor Terrett noted that the agency primarily focuses on cases with expiring deadlines. She emphasized that the next key court hearing in the Ripple case is scheduled for April 16, and in the Kraken case - for March 31.
The SEC has previously requested a stay in the Coinbase case, but has not yet received such a request in the Ripple case. In addition, this week the Commission withdrew its appeal in the Blockchain Association case, which may indicate a softening of its stance on the cryptocurrency sector. However, the final decision on Ripple could affect the entire industry, so the regulator is probably in no hurry to completely close the case.
The situation at the SEC is developing rapidly. A few weeks ago, a new cryptocurrency working group was created within the agency, headed by Hester Peirce, known for her support of digital assets. This group will develop new rules for regulating the crypto market and assess the possibility of creating a state reserve in cryptocurrencies.
An additional factor of pressure on the SEC may be the possible appointment of Paul Atkins, a supporter of cryptocurrencies, as the chairman of the Commission. However, his candidacy must still be approved by the US Congress.
Another important event was the signing of a new executive order by Donald Trump on February 19. The document calls for increased oversight of independent federal agencies such as the SEC and FTC. If it comes into force before April, the president will be able to demand that the regulator drop the case against Ripple.
In his statement, Trump noted that independent agencies have long had significant power without being directly controlled by the presidential administration. The new order is aimed at making their activities more transparent and accountable.
However, the document has caused a mixed reaction. Some experts believe that it overly centralizes power and can be challenged in the Supreme Court.
Thus, by April, many changes may occur that will affect the outcome of the SEC and Ripple case.
