The delay in the Ripple-SEC settlement raises important questions about regulatory processes and impacts the cryptocurrency market, especially regarding XRP.
Reasons for Settlement Delay
The SEC, through its commissioners and legal staff, requires a formal vote for any settlement related to Ripple. Ripple's CEO, Brad Garlinghouse, has remained silent on imminent agreements.
Market Reaction of XRP
Analysts, including Marc Fagel, a former SEC director, note that a settlement between Ripple and the SEC is unlikely to occur before July 14. He stated, 'The SEC’s internal review process for settlements usually takes one to two months to complete.' As XRP showcases volatility, $270 million worth of XRP has been moved to self-custody, indicating mixed investor sentiment.
Impact on the Crypto Industry
Ripple’s case is being closely monitored, with potential implications on regulatory perspectives for tokens like ETH, SOL, and ADA, which are also under scrutiny. Experts suggest that delays in Ripple’s settlement could influence future SEC actions, potentially reshaping strategies for payments and Layer 1 protocols.
The delay in Ripple’s settlement with the SEC highlights the complexities of cryptocurrency regulation, causing concern in the market with potential broader consequences for the industry.
