Donald Trump's victory in the US presidential race gives hope for a new strategy in crypto regulation. Lawyer Fred Rispoli assesses the impact on the Ripple case and possible changes at the SEC.
Impact on Ripple Case
According to lawyer Fred Rispoli, the election results may alter the legal proceedings between Ripple and the SEC. It is expected that the new commission leadership will take steps for a quicker resolution of the case.
Long-standing Dispute May Conclude Sooner
Rispoli outlined two scenarios in his statement: either an expedited deal securing a partial win or a leadership change that could reduce the penalty to $125 million. Ripple and its CEO Brad Garlinghouse note the prolonged nature of the case and express hope for industry changes under the new administration.
SEC's Crypto War under Gensler
The industry celebrates a win against Gary Gensler's stringent policies, expected to ease under Trump. Gensler led an aggressive campaign against crypto firms, pursuing 46 cases last year, leveraging old securities laws which resulted in billion-dollar fines.
Changes in SEC policy under Trump's leadership may bring more regulatory clarity to cryptos and conclude Ripple's prolonged legal case. The crypto industry hopes for positive transformations.
