The XRP lawsuit between the US Securities Committee and the American Stock Exchange (SEC) and Ripple appears to come close to a decision, as former SEC official John Reed Stark indicates that the case will be dropped according to “very favorable conditions.” Stark, who previously served as head of the SEC Internet Enforcement Office, made these claims on February 18 on X, noting broader transformations in the SEC approach to enforcement in force.
The XRP suit faces a major shift
Stark mail It comes in the wake of great developments regarding SEC enforcement actions against the main encryption entities. He pointed out that the case of the Supreme Education Council against Coinbase has been suspended, and attracts similarities to a similar stop in its case against Binance.
According to Stark, this pattern indicates that SEC reassesses its regulatory position on digital assets, which may withdraw its appeal against Ripple. Stark wrote in his position: “Writing is now on the wall: The Crypto Crypto implementation process has ended.” He added: “I think the winning cases are not a measure of success under the new SEC system. Instead, it deserves more than the Carmals discourse and its solution.”
SEC recently informed the second circle that the newly formed encryption squad can lead to a solution in its case of enforcement against Coinbase, which requires a delay in his response to a Coinbase’s appeal review request. A joint movement submitted by SEC and Coinbase has described the Agency’s continuous review of cases related to encryption and an additional time for “appropriate review”.
With the appearance of SEC to relieve its position on the encryption vowage, Stark expects a similar result of the XRP case. Ripple has been imprisoned in a legal battle with SEC since December 2020 due to allegations that XRP is unregistered security. However, the pivotal ruling in July 2023, Judge Analisa Torres determines that XRP sales of retail investors were not qualified as securities transactions – leading to a major blow to the SEC case.
Stark visions indicate that the Supreme Education Council can stop or withdraw its appeal completely against Ripple. “It is expected that all appeals related to encryption will stop, including the resumption of the issue of ripples, or most likely, have been completely withdrawn,” he said.
One of the most prominent transformations in the SEC’s internal structure is to reorganize the encryption enforcement section. The encryption assets and electronic unit of the previous basis have been renamed as the Internet and Emergio Technologies Unit. Stark stressed that this step reflects a strategic axis away from the enforcement associated with aggressive encryption, highlighting the re -assignment of a SEC’s main lawyer who had previously led successful litigation efforts against the main encryption companies.
Stark stated: “The absolute evacuation of its encryption enforcement program is now called all cylinders,” noting that the most successful lawyer of the encryption enforcement within the agency is re -set into non -birth roles.
Stark’s evaluation indicates a wide escalation of SEC enforcement operations against the encryption industry. Select three main expectations: First, encryption investigations are expected to stop. SEC’s ongoing investigations into encryption or stopping projects will probably slow down.
Second, active lawsuits, including the XRP case, can be resolved in a very favorable manner for encryption companies. “SEC expects the SEC experience to stop all the encryption vowage, instead, to settle or reject all cases related to SEC coding urgently in very favorable phrases of encrypted accused,” Stark writes.
Third, legal appeals, such as the Ripple case, may be abandoned, where SEC re -examines its organizational approach. “Expect that all the appeals related to encryption will stop, including the resumption of the issue of ripples, or most likely,” he added.
Despite the previous judicial rulings that confirm that some digital assets qualify as securities, Stark confirms that the current organizational climate makes these precedents “discussion now”. He concludes: “Regardless of how the SEC chair or the new SEC chair or revolves around Binance, Coinbase (and ripples soon),“ Crypto-Crypto Mead enforcement such as Julius Caesar. He concluded.
At the time of the press, XRP was traded at $ 2.60.
Distinctive image created with Dall.e, Chart from TradingView.com
