Experts argue that Ripple's legal battle with the SEC is more complex than it seems, involving procedural intricacies and an existing $125 million penalty with ongoing oversight until August 7.
Complex Procedures and Existing Measures
The legal tussle between Ripple and the US Securities and Exchange Commission (SEC) dates back to December 2020 and is among the most-discussed topics in the cryptocurrency industry. Some recent developments and partial court wins for the company have sparked speculation about a forthcoming resolution, but the case remains open. Popular lawyer Jeremy Hogan believes that the case against Ripple is more likely to be settled rather than dismissed. Fox Business journalist Eleanor Terrett noted the complexity of the Ripple case, highlighting that the judge has already imposed a penalty on the company and retained jurisdiction until August.
Experts' Opinions on Possible Developments
Earlier this month, John Reed Stark, a former SEC employee, suggested that the watchdog might pause all crypto-related appeals, including the one against Ripple. Stark based his theory on the SEC's agreement with Binance and recent changes in the regulator’s leadership, consisting of transferring one of its top crypto litigators to its IT department.
Other Factors and Leadership Changes
Leadership changes at the SEC are also impacting the situation. Jorge Tenreiro, an experienced SEC trial lawyer significantly involved in the case against Ripple, has been transferred to the IT department. This could signal shifts in approaches to current cases and new regulatory strategies for cryptocurrencies.
The battle between Ripple and the SEC remains complicated and multi-layered, with experts suggesting that a quick resolution is unlikely. Future developments will depend on procedural issues and potential strategic changes in the case.
