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As the deadline for the American Securities and Exchange Commission’s (SEC) appeal in the Ripple 
$2 case approaches (January 15, 2025), speculation is growing regarding whether the SEC will continue its legal battle.
Ripple Case Overview
The SEC’s appeal against the mixed ruling in July 2023 regarding Ripple remains a significant focal point. U.S. District Judge Analisa Torres ruled that XRP is not a security when sold to individual investors through exchanges, yet is classified as a security in institutional sales. This decision marked a crucial turning point for the SEC’s case.
Despite an unsuccessful attempt in the appeal, the SEC has filed a request for further discussion on the ruling. However, legal experts are divided on whether the SEC will continue the appeal process or seek an extension.
Attorney Jeremy Hogan suggested that the SEC may request a 30-day extension to explain delays in its appeal.
Bill Morgan and Case Assessment
In light of the changes in SEC leadership, Bill Morgan expressed concerns about the Commission’s future approach to cryptocurrency regulation. Morgan noted that the new Attorney General, Jorge Tenreiro, who will sign off on the SEC’s appeal in the Ripple case, is significantly involved in the matter.
“I will continue to view the SEC’s approach to cryptocurrency and crypto markets with skepticism if new commissioner Paul Atkins remains in that position.” – Morgan.
Morgan’s comments underscore the uncertainty surrounding the SEC’s strategy. Despite the upcoming deadline for the appeal, he cautioned against jumping to early conclusions regarding the agency’s decisions.
The ongoing leadership changes within the regulatory body may impact the outcome of the Ripple case. Newly confirmed SEC Chairman Paul Atkins is expected to bring a different perspective to the agency’s approach to cryptocurrency regulation.
Atkins, a former SEC Commissioner, is known for advocating clearer and more balanced regulatory measures, particularly in the cryptocurrency sector. Ripple CEO Brad Garlinghouse described Atkins as “an outstanding choice,” emphasizing the need for sensible regulations.
Under Atkins’ leadership, Ripple and other crypto-related businesses may encounter a more favorable regulatory environment. Garlinghouse is optimistic that Atkins’ approach could signal the end of the “ban period” for cryptocurrencies.
Ultimately, the progression of the Ripple case and the SEC’s strategic decisions could play a significant role in regulating the cryptocurrency markets. New leadership and legal developments continue to shape the dynamics within the sector, as the SEC’s action on January 15 and the leadership transition on January 20 could lead to substantial fluctuations in the price of XRP Coin.
