Ripple’s Win Incoming? SEC on the Ropes, Ex-Official Calls It a Wrap
The US Securities and Exchange Commission (SEC) is backtracking on its crypto enforcement, according to John Reed Stark, former chief of the SEC’s Office of Internet Enforcement.
In a recent post on social media platform X, Stark says the agency will drop its appeal against Ripple and halt all pending crypto cases.
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For years the SEC has gone after major crypto entities, saying digital assets like XRP are unregistered securities. But a string of legal setbacks and internal restructurings now indicate a big change in strategy. Stark points to cases against Coinbase and Binance as evidence the agency is dialing back.
Legal Setbacks Force Strategic Shift
One of the biggest signs of the SEC’s retreat is the Coinbase case. On Feb 16 the agency told the Second Circuit it might use its new Crypto Task Force to settle the case and so will be delaying its response to Coinbase’s petition for appeal. Stark says, “Stick a fork in the SEC’s case against Coinbase, it’s done.”
A similar trend is happening with Binance. Just last week both parties asked for a two month pause in proceedings, which means settlement discussions or a change of priorities. The reassignment of a key SEC trial attorney who was instrumental in winning cases against crypto companies further supports the idea that enforcement is winding down.
Key Indicators of SEC’s Retreat:
Delays and Concessions: The SEC is asking for case pauses.
Leadership Changes: Trial attorneys on crypto cases have been reassigned.
Softening Stance on Litigation: Stark says cases will be settled on favorable terms to crypto companies.
Ripple’s SEC Appeal Likely to Be Dropped
Stark says Ripple’s case will be completely abandoned. He argues crypto appeals, including the SEC’s appeal of Judge Analisa Torres’ ruling that XRP is not a security when sold on exchanges, will be paused or withdrawn altogether.“SEC crypto-enforcement is dead. Julius Caesar is,” Stark said.
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