The SEC has recently made significant moves by dropping the lawsuit against Coinbase and suspending the case with Binance, signaling a shift in the agency's approach.
Coinbase has confirmed the cancellation of the lawsuit, and the SEC has also decided to drop the lawsuit against the NFT platform OpenSea. However, the agency is still handling other ongoing lawsuits with Kraken Exchange, Uniswap, and Robinhood, with Wells notices having been issued.
The market is eagerly awaiting positive updates from the SEC, as any moves will eliminate uncertainty and help stabilize the crypto market.
The Ripple lawsuit and the SEC's future plans
The market is eagerly awaiting the conclusion of the lawsuit between the SEC and Ripple; however, it may take longer, with some speculation that the SEC may pause a few stages of the lawsuit before taking further action.
The SEC has also scaled back its enforcement efforts targeting the crypto space, including reallocating staff from its enforcement unit. These changes signal a more balanced approach to regulation and could indicate a brighter future for the market.
Despite the ongoing lawsuits, things are heading in the right direction, and many believe that dropping these lawsuits will benefit the entire industry. As uncertainty surrounding the classification of securities is resolved, prices are likely to rise sharply as the market becomes clearer.
Attorney Jeremy Hogan believes the SEC could pause certain parts of the Ripple case, such as not filing any appeals, which would be a positive sign that they are working to conclude the case, although it may take additional time.
This week, we may see a few positive news items, even if it’s just a signal that the SEC is planning to conclude its enforcement actions with Ripple.
Former SEC lawyer Marc Fagel stated that if the SEC withdraws its own appeal while Ripple has filed a cross-appeal, that would constitute an acknowledgment of error.
He also pointed out that failing to collect the $125 million fine, which the federal court ruled, would constitute similar behavior. Fagel believes that a settlement, possibly adjusted according to the terms of a summary judgment, is the most likely outcome.
When asked if this process could extend until August 7, 2025, Fagel replied that it could happen at any time.
Source: https://tapchibitcoin.io/vu-kien-giua-sec-va-ripple-dien-ra-nhu-the-nao.html