There’s growing speculation that the SEC vs. Ripple case could be resolved under the President-elect Donald Trump’s administration. SEC’s current chair Gary Gensler is set to step down on January 20. Trump has nominated Paul Atkins, a cryptocurrency advocate, as the next chairman.
The SEC claims Ripple violated securities laws by issuing XRP. Some of the XRP issuance was considered a security, while other parts were not. The SEC is appealing the ruling, and with a new SEC administration under Trump, there’s speculation on whether the case will be dropped.
After Atkins takes office, many experts believe that the U.S. crypto market urgently needs clear, written laws, rather than inconsistent rulings from courts. Nevertheless, the Ripple case remains a significant moment in the ongoing battle against crypto regulation in the U.S.
With major events unfolding, especially with the upcoming changes at the SEC, it’s a crucial time for anyone involved in crypto. When Patrick Bet David asked MicroStrategy’s Michael Saylor, “The community with XRP & Ripple, has anything changed since you and I were last together?” Saylor shared his view and said that he believes the current administration is supportive of crypto, particularly Bitcoin, and focused on freedom.
He also pointed out the need for a digital assets framework that defines various crypto categories clearly, from digital currencies to NFTs and tokenized assets. If regulators provide this clarity, Saylor predicts significant growth for digital assets in the U.S.
Saylor said, “I think you’ll have a pro-digital assets SEC, a pro-digital assets Treasury, a pro-digital assets White House, and a pro-digital assets House & Senate.” However, a lot of users and XRP enthusiasts noticed how Saylor dodged the question. A user said, “He literally didn’t answer the question which tells us exactly how he’s feeling.”
Read the full article here
