Ripple vs SEC Final On Jan 15: A Reason To Celebrate

Ripple vs SEC Final On Jan 15: What’s Coming This New Year?

Ripple vs SEC Final On Jan 15: XRP Celebrates

Ripple might have felt troubled once it entered the legal battle with US SEC, however, things are not the same anymore. Recent events have paved the way to glory for Ripple, with Gensler stepping down soon and RLUSD, Ripple’s stablecoin, getting launched yesterday. In addition to this, recent news came up stating that the SEC Commissioner Caroline Crenshaw will not be renominated for the position. 

Crypto Enthusiasts, Especially XRP Supporters, Have More Than One Reason To Celebrate

Pro-crypto Donald Trump’s inauguration on January 20 will see Gary Gensler replaced by another pro-crypto Paul Atkins. This is exactly as Trump had promised during the US Presidential elections, and gave XRP a push to reach new highs.

Ripple’s stablecoin USD also launched December 17, marking global growth for Ripple Labs. 

Now, SEC Commissioner Caroline Crenshaw was targeted for her strong anti-crypto stance, and is now denied renomination.  

All these developments have one-by-one supported Ripple and XRP in their quest against the SEC, as well as opened many paths for the entire crypto community, bringing a new ray of hope.

What’s With The January 15, 2025 Date?

Well, January 15 has been designated the new deadline for filing in the Ripple vs SEC lawsuit. The SEC requested an extension to file its principal brief. As per attorney Fred Rispoli, the filing  will basically involve paperwork and there won’t be any new evidence or jury trial. There will be two appeals, one from each side, known as a “cross-appeal.”

January 15, 2025 will see the two parties submitting an opening brief, followed by an opposition brief and finally a reply brief. Then there will be a 15-minute oral argument in front of the three judges. 

The entire process can still take a year and a half, but the supporters are optimistic enough to receive support from the new governance.

Another Recent Development

The Empower Oversight is urging Congress to release an SEC’s Inspector General report that would be on the former chairman Jay Clayton and his actions. It is expected to further bolster their investigation before he is confirmed to the post of US Attorney for New York’s Southern District.

Former SEC Division of Corporation Finance director William Hinman had in 2018 given a speech as per which Ethereum’s digital token Ethereum wasn’t a security. This raised Ether prices, but blamed Hinman to have violated the law by promoting Ether while having financial conflicts of interest. As a result, the nonprofit organization Empower Oversight is questioning Clayton’s public statements on cryptocurrencies like Bitcoin and Ether.