- Donald Trump, through his Truth Social page, announced the inclusion of Ripple XRP in the country’s strategic cryptocurrency reserve.
- It has led to a debate about whether Donald Trump’s views could have an impact on the SEC lawsuit that began against Ripple in 2020.
Donald Trump announcement The inclusion of XRP into the U.S. Crypto Reserve has shocked the entire digital asset market. XRP, known for its effectiveness in cross-border transfers, is now among a group of cryptocurrencies that includes Cardano, Solana, Ethereum, and Bitcoin.
Bitcoin-only maximalists have expressed their disappointment, despite the excitement of XRP owners. This development is also important because it has revived hopes of a quick resolution for the Ripple-SEC longstanding lawsuit. Jeremy Hogan is sceptical, stating that this case could take up to May.
Jeremy Hogan’s Take on the Case Timeline
Hogan responded to a question from X on whether Trump’s announcement will speed up the resolution of the case. dismissed the idea, stating, “I don’t think so.” He elaborated on the topic in a subsequent post: “I think the appeals are dismissed by mid-April and the whole thing is over by May. But timing these things is always the most difficult.”
Hogan’s comments indicate that despite any political changes, legal proceedings are likely to continue as usual, unaffected even by factors outside of the courtroom, such as Trump’s endorsement for XRP.
James Murphy, also known as MetaLawMan or James Murphy has shared an alternative Perspective on the reason why this lawsuit has been dragging. He speculates Ripple is negotiating with SEC in order to overturn certain aspects of Judge Torres’ ruling. These include the findings related securities law violations, and the imposition of an injunction.
MetaLawMan said in an X-post that: “The Torres decision was unquestionably GREAT for $XRP holders, BUT the (a) finding of securities law violations and the (b) injunction (with attendant ‘bad boy’ provisions) are not so great for Ripple. This is particularly true if Ripple is considering a future exempt securities offering or IPO.” His theory is that the SEC was willing to accept a $125-million penalty but Ripple may be waiting for a more favorable deal and delaying the resolution.
SEC’s approach to cryptocurrency regulation has changed since Donald Trump became president on January 20, 2017. The SEC has taken a new approach to crypto regulation since Donald Trump took office on January 20. As we reported, The SEC closed its investigation of OpenSea in recent weeks and dismissed Coinbase’s case at the same time. The agency also closed its investigation of Uniswap LabsSince April 2024, the company has been investigated for its alleged operation as an unregistered exchange, broker and clearing agency. It was also accused of issuing unregistered security.
SEC’s next “Spring Sprint Towards Crypto Clarity” Starting March 21, the conference aims to clarify securities in crypto, signaling an underlying push for greater regulatory transparency. It doesn’t affect directly the XRP case, but it reflects a move towards a more organized and favorable regulatory environment.
In the last 24 hours, the price of XRP has soared. 17.45%, Reaching $2.66With a 6% Over the past seven days, we have seen a gain. Trading volume soared by 579% on the last trading day and reached $22.3billion.
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Source: www.crypto-news-flash.com
