The U.S. SEC might pause its lawsuit against Ripple, following similar actions in its cases against Coinbase and Binance. Former SEC official John Reed Stark suggested this shift, pointing to recent delays in both cases.
The SEC notified the court that its Crypto Task Force would affect its Coinbase lawsuit, which resulted in postponing court proceedings. A request for a two-month delay appeared before the court in the case involving Binance.
The enforcement unit of the agency underwent a rebranding process, which suggests a significant change in its operational approach. The legal community anticipates that Ripple XRP may be the next company targeted by the SEC.
Legal expert Jeremy Hogan anticipates that the SEC will reach an agreement with Ripple before granting permission for an XRP ETF. Three ETF applications have received acknowledgment from regulators while the chances for approval continue to rise, which indicates a potential resolution.
The SEC has maintained a lengthy lawsuit against Ripple regarding the security classification of XRP. The court declared XRP non-security status for specific transactions in 2023, yet the SEC maintains its opposition.
A pause or settlement seems likely because key SEC lawyers have been reassigned, and the agency demonstrates reduced crypto enforcement. The SEC may resolve Ripple’s legal dispute in the same manner it did with Coinbase and Binance.
Also Read: SEC Seeks 28 More Days in Coinbase Legal Battle
