Since January, the SEC has announced it will not pursue enforcement cases against Coinbase, Consensys, Kraken and others.“We do have a judgment, we are on appeal — that presents some additional complexity,” said Alderoty in regard to the case potentially being dropped.“But we remain optimistic that we’ll get to a resolution with the SEC, and if we don’t, we’ll proceed with the appeal.” According to the Ripple CLO, there were several possible outcomes to ending the SEC case if both parties were in agreement that it should wind down.
At the time of publication, no filing suggesting the SEC intended to drop the case appeared on the docket for the US District Court for the Southern District of New York or the US Court of Appeals for the Second Circuit. Change of tone at SEC under TrumpThough the SEC filed the Ripple case under Trump’s former chair, Jay Clayton, the commission stepped up the number of enforcement actions following Gensler’s confirmation in 2021.
Ripple chief legal officer Stuart Alderoty told Cointelegraph on March 11 that the SEC civil case was “far more advanced” than many of the others the regulator had dropped following the inauguration of US President Donald Trump and the departure of Chair Gary Gensler.
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Author / Journalist: Cointelegraph by Turner Wright
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