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<p>The post <a rel="nofollow" href="https://coinpedia.org/news/ripple-vs-sec-update-xrp-lawyers-and-ripple-chairman-address-sec-lawsuit-outcome/">Will the SEC’s ‘Lamentable’ Approach Be Replaced By Congress’s Strong Hand? Experts Discuss</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The ongoing legal battle between <a href="https://coinpedia.org/news/is-ripple-the-next-amazon-google-or-apple-wealth-manager-shares-insights/">Ripple</a> and the SEC has sparked concerns about the regulatory landscape for cryptocurrencies. However, key figures in the crypto space, including Ripple CEO <a href="https://coinpedia.org/news/xrp-lawsuit-ripple-co-founder-says-sec-lost-everything-talks-about-ripples-latest-appeal/">Chris Larsen</a> and XRP lawyers, are hopeful that the SEC’s enforcement-based approach to regulation may soon come to an end.</p> 
<p>Will the SEC’s approach to crypto regulation change? What role will Congress play in shaping cryptocurrency policy? Will Ripple be able to win its legal battle with the SEC? These are just some of the questions that will be answered in the coming months.</p> 
<h2 id="criticism-for-the-sec" data-name="criticism-for-the-sec" class="wp-block-heading">Criticism for the SEC</h2> 
<p>The SEC has recently faced harsh criticism from the courts in several lawsuits. In a notable case involving <a href="https://coinpedia.org/news/grayscales-victory-against-sec-sends-bitcoin-prices-soaring/">Grayscale</a>, the judges ruled that the SEC’s actions were “arbitrary and capricious.” This scrutiny has put a spotlight on the SEC’s enforcement of regulations in the crypto industry.</p> 
<p>Similarly, Judge Netburn, handling the <a href="https://coinpedia.org/news/crypto-liquidations-surge-to-273-million-as-altcoin-rally-obliterates-short-positions/">Ripple XRP lawsuit</a>, went so far as to use the word “hypocrisy” when characterizing the SEC’s inconsistent positions. Eventually, the judges overseeing these legal cases haven’t been too happy with the U.S. <a href="https://coinpedia.org/news/xrp-news-secs-howey-double-standards-ripples-revelation-sparks-ethereum-controversy/">Securities and Exchange Commission (SEC)</a>.&nbsp;</p> 
<p>Related: <a href="https://coinpedia.org/news/crypto-vs-sec-firegarygensler-trends-u-s-representative-challenges-sec-chairman/">#FireGaryGensler is Trending! U.S. Rep Davidson Takes Action Against SEC Chairman</a></p> 
<h2 id="is-all-hope-lost" data-name="is-all-hope-lost" class="wp-block-heading">Is All Hope Lost?</h2> 
<p>On September 7, Chris Larsen expressed optimism regarding the pote­ntial end of the SEC’s “regulation by e­nforcement” policy. He highlighte­d that courts are increasingly reje­cting the perceive­d unfair treatment of the crypto industry by the SEC. Larsen urged Congress to take a leading role in shaping cryptocurrency policy moving forward.</p> 
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   <p lang="en" dir="ltr">I sincerely hope we’re seeing the beginning of the end of the SEC’s policy of regulation by enforcement. The Courts are rejecting it, and now it’s time for Congress to take the lead on crypto policy.<br><br>Thanks <a href="https://twitter.com/EdLudlow?ref_src=twsrc%5Etfw">@EdLudlow</a> <a href="https://twitter.com/technology?ref_src=twsrc%5Etfw">@technology</a> for the chat! <a href="https://t.co/3gZOR4lq5J">https://t.co/3gZOR4lq5J</a></p>— Chris Larsen (@chrislarsensf) <a href="https://twitter.com/chrislarsensf/status/1699545784063303873?ref_src=twsrc%5Etfw">September 6, 2023</a>
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<p>During an interview with Bloomberg, Chris Larsen attributed the hinde­red progress of San Francisco in becoming the “blockchain capital of the world” to the U.S. government and the SEC, asserting their hostile­ policies as responsible.</p> 
<p>Read More: <a href="https://coinpedia.org/news/xrp-lawsuit-ripple-co-founder-says-sec-lost-everything-talks-about-ripples-latest-appeal/">XRP Lawsuit: Ripple Co-founder Says ‘SEC Lost Everything,’ Talks About Ripple’s Latest Appeal</a></p> 
<h2 id="lawyers-are-concerned" data-name="lawyers-are-concerned" class="wp-block-heading">Lawyers are Concerned</h2> 
<p>XRP lawyer Bill Morgan share­s the same viewpoint as Larse­n, believing that the SEC’s strategy is ineffective due­ to their frequency of losing court case­s. Morgan strongly criticizes the SEC’s approach as being highly de­trimental. Some judge­s have criticized the SEC for its alle­gedly arbitrary and nonsensical actions.&nbsp;</p> 
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   <p lang="en" dir="ltr">The SEC is now losing badly in the courts but they are still going on with it anyway as you personally are experiencing. It is absolutely lamentable. <a href="https://t.co/yk4MJX9YvZ">https://t.co/yk4MJX9YvZ</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1699548469827121159?ref_src=twsrc%5Etfw">September 6, 2023</a>
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<p>Ripple’s leadership remains confident about the ongoing legal battle with the SEC. The company argues that the SEC’s lawsuits lack a clear rationale and fail to address whether current regulations adequately govern the cryptocurrency realm.</p>

Will the SEC’s ‘Lamentable’ Approach Be Replaced By Congress’s Strong Hand? Experts Discuss

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