SEC to Stop Ripple’s XRP Appeal
Former SEC Internet Enforcement Office director John Reed Stark thinks the agency will soon halt the Ripple appeal.
“Expect all crypto-related appeals, including the appeal of the Ripple matter, to pause or even more likely, to be fully withdrawn,” he stated.
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This follows the SEC’s apparent suspension of the Coinbase case. Stunning Narratives Soon, the SEC will pause the ripple appeal.
The SEC recently informed the Second Circuit that it may be able to resolve its enforcement case against the top US cryptocurrency exchange with the assistance of its recently established crypto force.
The SEC pleaded for a two-month halt in the Binance case earlier in February. Following SEC Commissioner Mark Uyeda’s appointment on January 20 as the agency’s interim head made significant changes
Last month, the SEC established a task group dedicated to cryptocurrency to establish unambiguous regulations for the sector. Reed Stark highlighted that the SEC’s cryptocurrency division was “dead and buried.”
Jorge Tenreiro, the senior litigator at the SEC, was recently demoted by the agency’s new leadership.
“I suppose that winning cases is not a sign of success under the new SEC environment. Rather, it is more deserving of disbandment and a Scarlet Letter,” he declared. Stark now thinks that all official and informal SEC crypto-related investigations will come to a “screeching halt.”
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