- Mark Uyeda, the acting chair of the SEC and a pro-crypto advocate, is likely to be in charge at the first SEC closed-door session. The Ripple Case will also feature heavily on the agenda.
- Uyeda’s appointment by Donald Trump was warmly welcomed by the XRP community, which led to a rise in XRP token prices.
The SEC has been pursuing Ripple for four years, but despite many court decisions, this case is still not fully resolved. The SEC is preparing for its first meeting behind closed doors under acting chairman Mark Uyeda, who supports crypto.
SEC reports that the SEC meeting on Thursday is set to take place. website. Discussion topics will include
- Injunctive action: Institution, settlement and enforcement
- The institution and settlement administrative proceedings.
- Resolving litigation claims
- Examens, enforcement actions and other matters.
This is not the first time that a closed-door session has taken place. Ripple Discussions have focused on the importance of a good vantage point. The XRP Community had hoped that the meetings would bring positive results and end this four-year nightmare, but little has changed.
The upcoming election is a new one, and there’s a fresh air of optimism. Uyeda was Trump’s nominee for the role of acting chair. Uyeda served as a Commissioner during the Gensler years, but like her fellow commissioner Hester, she was appointed to act in that role by Trump. “Crypto Mom” Peirce was often at odds with Gensler and openly condemned the unwarranted crypto-crackdown.
Uyeda’s time at the helm may be short-lived, since Paul Atkins, who is pro crypto as well has been chosen to succeed him. However, he will leave a legacy for XRP and the entire crypto industry with his Thursday meeting.
Uyeda’s initial order as SEC head was creating a new crypto task force, named ‘SEC Crypto 2.0,’ which is to be chaired by Crypto Mom Peirce to offer better regulatory clarity to crypto firms.
The Ripple and SEC War is Over?
Ripple’s war with the SEC was long and destructive. XRP has been rewarded for its support of the California-based company. Ripple was able to put the SEC under pressure last year. winning some key rulingsThe SEC initially demanded a $2 billion fine. However, the SEC was able to lower that to just $125 millions. Also, the courts sided Brad Garlinghouse (CEO) in November. We determined that XRP is not a security contract.
Price charts are the final reward that XRP investors will receive. In December 2020, when former SEC chairman Jay Clayton filed Ripple’s lawsuit, the token dropped to just $0.22. It has since gained 1,368% and is currently trading at $3.2, after a 2.9% increase in the previous day.
Uyeda is expected to put an end to the witchhunt of Ripple. The next milestone for XRP, according to many, will be the approval of a spot ETF.
You may also like:
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.crypto-news-flash.com
