Lawsuit against Coinbase Dropped by SEC, while Ripple Case Remains Pending
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The SEC has dropped its lawsuit against Coinbase, signaling a new era for crypto enforcement. On the other hand, Ripple's legal battle persists, with a $125 million penalty looming and a potential resolution by May, though delays remain a possibility.
Coinbase's lawsuit dismissal by the SEC under acting Chair Mark Uyeda is seen as a positive development by the crypto community, indicative of a move towards more balanced regulatory practices.
Ripple's case, however, still lingers in court. Initiated in December 2020, the legal proceedings have been prolonged due to complexities. Fox Business reporter Eleanor Terrett highlights these challenges as the catalyst for the delay.
Navigating Ripple's Legal Barriers
Unlike Coinbase, Ripple already has a court ruling—a $125 million penalty as ordered by Judge Analisa Torres. This penalty adds extra legal hurdles before the case can be resolved. Torres will oversee the case until August 7, 2025, ensuring Ripple adheres to the penalty terms.
The SEC may attempt to negotiate a penalty reduction or even seek to dismiss the fine, but these decisions must receive approval from Judge Torres before taking effect.
Seeking a Quick Resolution? chances are slim
While some believe a settlement could end the case swiftly, legal experts are skeptical, citing the court ruling as a complicating factor. Crypto trader Jesse suggested settling if the SEC wants fairer crypto rules, but experts doubt a rapid resolution is on the horizon.
Terrett confirms that a settlement is possible but complex due to the court ruling's implications. The SEC cannot dismiss the case without addressing the penalty.
Attorney Jeremy Hogan likened the situation to relationships, stating that Coinbase's case resembles a short-term romance, while Ripple's case mirrors a long-term commitment with deeper obligations.
Crucial Month Ahead for the Ripple Case
A crypto follower asked Hogan for an estimated timeline for the case's conclusion. Hogan predicted an end date between April and May, but unexpected developments could cause delays.
The SEC's recent actions, such as freezing its case against Binance and withdrawing an appeal involving DeFi protocols, suggest a shift in its approach to crypto regulation. Many investors are eagerly awaiting a resolution to bring clarity to Ripple's case and potentially influence future crypto regulations.
- The $125 million penalty ordered by Judge Analisa Torres for Ripple adds extra legal hurdles that must be addressed before the case can be resolved.
- Torres will oversee the Ripple case until August 7, 2025, ensuring Ripple adheres to the penalty terms.
- Although a settlement could potentially end the Ripple case, legal experts are skeptical due to the court ruling's complicating factors.
- Crypto regulation within the industry may see a shift in approach following the SEC's recent actions, such as freezing its case against Binance and withdrawing an appeal involving DeFi protocols.
- According to attorney Jeremy Hogan, the Ripple case is expected to conclude between April and May, but unexpected developments could cause delays.
