The American crypto industry is undergoing major changes, especially since the Securities and Exchange Commission (SEC) undertakes steps from the Trump era to reject various controversial lawsuits against large crypto companies. However, one legal battle continues to unfold – the continuous lawsuit between the SEC and Ripple (XRP).
While things in which companies such as OpenSea, Robinhood, Uniswap (Uni), Gemini, Metamask and Coinbase are rejected are rejected, Ripple’s case is not resolved.
In the meantime, President Trump’s recent announcement has a strategic reserve of the American cryptocurrency, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL) and Cardano (ADA), added fuel to market speculation. Investors are now wondering whether the inclusion of XRP in the reserve could lead to a rapid solution of the current case, where many believe that the SEC will soon drop its lawsuit.
What is the next step for Ripple right case?
Legal expert Jeremy Hogan has recently been opened about the delay in arranging the Ripple case, which indicates a considerable order in the opinion of Judge Torres, which prevents Ripple from selling directly to customers. Hogan explained that although there are solutions, Ripple is reluctant to violate the order. As soon as a court issues such an order, the parties involved cannot simply agree to ignore it, making it a challenging obstacle to overcome.
To resolve the order, Ripple would have to request “exemption from a judgment” under rule 60 of the federal rules of civil proceedings. However, it is not a simple process and changes to the Crypto regulations by the SEC will not automatically destroy the decision of the court. The judgment of the court, based on the Howey test, is independent of any rule changes that the SEC could implement.
https://twitter.com/attorneyjeremy1/status/1896232607592902957
Yet there is a possibility that Ripple could solve this problem, but it would be careful maneuvering. Hogan said that the court should exercise discretion, and if both Ripple and the SEC agree to request the dissolution of the order, this could be a strong argument. Ripple’s case could be resolved at the end of April or early May.