Within the wake of a collection of dropped investigations in opposition to distinguished crypto firms, authorized specialists are weighing in on what these developments might imply for Ripple Labs’ long-standing dispute with the US Securities and Alternate Fee (SEC).
On Monday, Robinhood confirmed it had acquired a letter from the SEC stating the closure of the regulator’s investigation into its crypto operations—a probe that initially stemmed from a Wells Discover the corporate acquired in Might 2024. Coinbase Chief Government Brian Armstrong additionally revealed final week {that a} comparable SEC investigation into the change had been terminated with no additional motion. As well as, the NFT market OpenSea beforehand noticed its personal SEC probe dismissed.
These terminations observe a rising pattern: The SEC has been systematically closing or dismissing authorized actions in opposition to crypto-focused entities—a stark departure from the extra combative method below former SEC Chair Gary Gensler. Notably, Gensler resigned on January 20, 2025, the day Donald Trump was inaugurated as President of the US. Beneath interim SEC head Mark Uyeda, the company has assembled a specialised crypto process pressure overseen by Commissioner Hester Peirce to make clear digital asset rules.
What Is Delaying The Ripple Vs. SEC Case Decision?
James “MetaLawMan” Murphy of Ludlow Avenue Advisors, LLC, took to social media platform X to spotlight the importance of those latest SEC strikes: “SEC closes investigation of Robinhood crypto enterprise after beforehand issuing Wells Discover. The post-Gensler SEC seems to lastly acknowledge that almost all crypto tokens should not securities. We must always see dismissals of circumstances in opposition to Gemini, Kraken, Binance, Ripple & others.”
In the meantime, he additionally highlighted why the Ripple case might final a tad longer to get a case decision in distinction to the opposite corporations. “The one cause I checklist Ripple final is the complexity concerned in negotiating a decision. Ripple is the one dwell crypto case with a last judgment in place. So, the SEC & Ripple attorneys should negotiate what to do in regards to the judgment & the cash escrowed for that judgment. That takes time,” Murphy acknowledged by way of X.
In the meantime, pro-XRP lawyer Jeremy Hogan just lately commented on how quickly the SEC’s stance has shifted in sure circumstances, predicting that the SEC might drop the Ripple case much more the brand new SEC chair Paul Atkins is sworn into workplace.
“The Coinbase Case was Dismissed WITH Prejudice – that means it can’t be refiled later; not even a settlement settlement with some minor concessions! I assume this SEC will not be ready for Atkins to be confirmed earlier than making massive crypto strikes. Ripple [is waiting in line],” Hogan wrote by way of X.
Total, Murphy’s assertion underscores that whereas different circumstances could also be swiftly dismissed, Ripple’s state of affairs is extra sophisticated as a result of current court docket determination. To resolve these particulars, each the SEC and Ripple’s authorized workforce should agree on methods to deal with the judgment, a course of that requires time.
At press time, XRP traded at $2.2191.
Featured picture created with DALL.E, chart from TradingView.com
