The U.S. Securities and Exchange Commission (SEC) remains in a legal standoff with Ripple over allegations of using XRP as an unregistered security, despite imminent leadership changes within the agency.
The Ripple Case Overview
The SEC's lawsuit against Ripple claims the company illegally raised funds by using XRP as an unregistered security, resulting in a $125 million liability in August 2024. Ripple's chief legal officer, Stuart Alderoty, highlighted on social media that the SEC intends to proceed with its appeal.
Trump's Influence and Personnel Changes
With Donald Trump's inauguration on January 20, SEC Chair Gary Gensler will step down. Trump's pledge to overhaul the SEC includes nominating former commissioner Paul Atkins, though Senate approval is still needed, adding uncertainty to the Ripple case's future.
Ripple's Political Strategy
Ripple has invested heavily in shaping the political landscape, contributing significant funds to the Fairshake PAC to support pro-crypto candidates, furthering their commitment to fostering blockchain-friendly policies post-Trump's victory.
Ripple's continued efforts in political maneuvering and its legal battle with the SEC emphasize the significance of legal and political strategies in the cryptocurrency sector's growth.
