SEC dismisses actions against other companies, but Ripple case remains unresolved, potentially influenced by politics.
From Cointelegraph
March 4, 2025 07:03 AM:
In a surprising turn of events, the SEC has dismissed high-profile enforcement actions against Coinbase, Consensys, Gemini, OpenSea, and Kraken. This signals a shift away from regulation by enforcement under President Donald Trump’s administration, according to SEC Commissioner Hester Peirce.
However, the Ripple case remains unresolved, despite being one of the oldest and most influential crypto cases. Originating in the pre-Biden era, the case accused Ripple of conducting an unregistered securities offering. Ripple faced a $125 million judgment in August 2024.
The Ripple case’s ongoing status amidst the SEC’s dismissal spree and its alignment with the White House raises questions. Ripple’s public courtship of Trump, including a reported $5 million contribution in XRP to his inauguration fund, hints at possible political influences in the case.
The reasons behind the Ripple case’s continued existence remain a mystery, with no official comments from the SEC or Ripple. Unlike other cases that were dismissed before final judgments were reached, Ripple’s unresolved status leaves room for speculation on potential factors affecting its outcome. The SEC could impose a $125 million fine on Ripple if the legal battle ceases, along with a five-year “bad actor” prohibition. Ripple might seek a favorable ruling by continuing the case, possibly negotiating for a better settlement. The SEC’s appeal could indicate a desire to defend its interpretation of securities law. Voices within the SEC may await the incoming chair’s confirmation before finalizing decisions on the case. With shifting regulations in the Trump era, the outcome of the Ripple case may not significantly impact enforcement over the next four years. 1. The stock market reached record highs today, with the Dow Jones Industrial Average closing at 35,000 points. This surge was fueled by strong earnings reports from major tech companies like Apple and Google.
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