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The U.S. Securities and Exchange Commission (SEC) may be shifting its approach to cryptocurrency lawsuits. Experts suggest that particularly in the case involving XRP, the proceedings might take a different trajectory. Recent developments in the SEC’s stance on the Coinbase case could serve as a precedent for similar cases.
Process of Decision-Making at the SEC
Renowned legal expert James Murphy predicts that the SEC will enter a statement defense phase depending on the court’s decision. According to Murphy, if the Second Circuit accepts the case, preparing the SEC’s defense could take several months.
James Murphy: “If the Second Circuit accepts the case, preparing the SEC’s defense could take several months.”
Meanwhile, the Ripple 
$2 case is also being closely monitored by the market. Reports indicate that the case has been removed from the SEC’s website and now appears under a new file number on the Supreme Court’s site. Ripple intends to submit its petition regarding the appeals process by April 16. XRP supporter lawyer Jeremy Hogan noted that there might be changes in the proceedings soon.
Expectations for the Future
Uncertainties regarding the SEC’s leadership could also influence the course of these legal matters. The absence of a Senate-confirmed chairperson raises concerns about varying approaches in resolving cases. Experts suggest that the nomination of a new chairperson could be critical, potentially occurring in March or April.
James Murphy: “There is currently no Senate-confirmed chair, but an appointment will likely happen around March or April.”
Market observers note that the process may currently be shaped by the votes of three commission members. Some legal experts believe that it would be challenging for an interim chair to make significant moves. Additionally, the SEC’s efforts to establish clear regulations could also impact the process.
These developments are being closely watched by market participants, who assess that there may be notable differences in the SEC’s approach after the appointment of a new chairperson. This situation contributes to the uncertainty surrounding future steps regarding the XRP case and similar issues.
