Future

Jungle

Change

<p>The post <a href="https://coinpedia.org/news/ripple-vs-sec-update-could-new-sec-leadership-change-the-outcome-of-xrp-lawsuit/">New SEC Leadership Soon? Here’s How the Ripple Lawsuit &amp; Others Will Be Impacted</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Former SEC attorney Marc Fagel has shed light on how a shift to pro-crypto leadership at the SEC might influence current crypto lawsuits, including the high-profile Ripple case. While a change in administration may not impact ongoing cases, it could lead to significant changes in future crypto regulations. With speculation about a possible Trump victory, many in the crypto community are hoping for the end of Gary Gensler’s leadership.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">3/ BUT less aggressive administrations have found themselves burned before. If they take a more hands-off approach on crypto, all it takes is one more FTX/Celsius, and they're going to ratchet it up again (absent Congress or the courts changing the legal regime).</p>— Marc Fagel (@Marc_Fagel) <a href="https://twitter.com/Marc_Fagel/status/1817685128900194511?ref_src=twsrc%5Etfw">July 28, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Here’s what you should know. </p> 
<h2 class="wp-block-heading" id="h-what-about-the-lawsuits"><strong>What About the Lawsuits? </strong></h2> 
<p>There are concerns about whether a new SEC chair might affect ongoing crypto cases. </p> 
<p>Jungle Inc., a well-known crypto expert and influencer, asked Marc Fagel about the SEC’s enforcement actions under different political administrations. Fagel noted that during Chairman Clayton’s tenure, the SEC rarely focused on crypto except for clear violations like ICOs. Under Chairman Gensler, however, enforcement has increased due to major fraud cases involving entities like FTX and Celsius. Jungle Inc. wonders if a pro-crypto administration might change this approach or if the SEC will continue its current enforcement until new laws are passed by Congress.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/Marc_Fagel?ref_src=twsrc%5Etfw">@Marc_Fagel</a> how much of the enforcement action at the SEC is tied to the current political administration?<br><br>Under Chairman Clayton crypto wasn’t an important area of focus outside of out of flagrant violations like ICOs. Commissioner Peirce stated they did very little discussion…</p>— Jungle Inc: Deaton 4 Senate (@jungleincxrp) <a href="https://twitter.com/jungleincxrp/status/1817682632198824209?ref_src=twsrc%5Etfw">July 28, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-will-future-policies-impact-ripple"><strong>Will Future Policies Impact Ripple? </strong></h2> 
<p>Fagel assured that a new SEC leadership is unlikely to change the progress of ongoing cases like Ripple. Typically, new leadership does not interfere with current enforcement actions. However, he noted that future policies might influence the settlement or appeals of such cases. If a pro-crypto administration takes over, the Ripple case might be settled more smoothly, and the SEC might avoid appeals if the ruling favors Ripple.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">3/ BUT less aggressive administrations have found themselves burned before. If they take a more hands-off approach on crypto, all it takes is one more FTX/Celsius, and they're going to ratchet it up again (absent Congress or the courts changing the legal regime).</p>— Marc Fagel (@Marc_Fagel) <a href="https://twitter.com/Marc_Fagel/status/1817685128900194511?ref_src=twsrc%5Etfw">July 28, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-new-leadership-new-rules"><strong>New Leadership, New Rules!</strong></h2> 
<p>Fagel pointed out that enforcement actions are usually apolitical, meaning they target violations regardless of the political climate. However, a new leadership could lead to a more lenient approach to crypto regulation. If a crypto-friendly administration comes into power, it might shift focus to more relaxed policies, which could affect how lawsuits involving major firms like Binance, Coinbase, and Consensys are handled. Nonetheless, any proven misconduct would still prompt regulatory action.</p> 
<p><strong>A Lenient Approach – Good or Bad? </strong></p> 
<p>Even if a new administration adopts a less aggressive stance, Fagel warned that this could backfire if another major scandal occurs. Such incidents might force the SEC to increase enforcement actions again. Fagel emphasized that significant fraud cases have driven the current enforcement climate, suggesting that any leniency might be short-lived if similar problems arise.</p> 
<p>While new SEC leadership might influence future crypto regulations, core enforcement efforts will stay focused on legal violations and market misconduct. The Ripple vs. SEC case and other major crypto lawsuits will continue under the SEC’s oversight, regardless of political changes.</p> 
<p><strong>The crypto industry is at a crossroads. Will a new SEC chair be a friend or foe? Join the conversation.</strong></p>

New SEC Leadership Soon? Here’s How the Ripple Lawsuit & Others Will Be Impacted

Table of Contents

CoinPedia News

Other articles published on Jul 29, 2024

Trump Says Bitcoin Will 'Skyrocket Like Never Before' If He Returns To The White House, Promises ...

Ethereum Plummets 8.5% Following ETF Outflows: Analyzing the Market Reaction

Situs Blockchain Explorer Blockchair Dukung 42 Blockchain dan Usung AI untuk On-chain Data

Sleeping Bitcoin Wallet From 2017 Moves 121.63 BTC Worth $8.25M After 7 Years

If History Repeats, Could Bitcoin Face 1930s-Style Regulation? Should You Support Trump?

Rollblock Sees Record Presale Sign-Ups; Dogecoin (DOGE) and Stellar Holders Like 50x Potential

Join our free newsletter for daily crypto updates!