The legal battle between Ripple and the SEC is nearing its end, potentially altering XRP's status significantly.
New Rumors About Case Closure
According to prominent crypto figure Andrew "AP_Abacus" Parish, two SEC sources have indicated that the Ripple and SEC case is very close to being over. This news has sparked intense discussion in the crypto community.
Potential Changes for XRP
If confirmed, XRP might acquire commodity status, moving it out of the SEC's jurisdiction and into that of the CFTC. This represents a significant change for a digital asset initially labeled as an unregistered security.
Implications for Ripple and SEC
Ripple originally faced a $2 billion fine, which has already been reduced to $125 million in 2024, and sources suggest the final amount might be greatly reduced further. This would be a major victory for the company. Leadership changes within the SEC have potentially influenced the agency's approach toward the crypto industry, and the case outcome will have long-term implications for crypto regulation.
While there is no official statement yet, all eyes are on the case's development. Attorney John Deaton expressed his attention to the topic with a cryptic eye emoji on Twitter.
