The SEC will not delay the Ripple lawsuit until after Gensler leaves

Party leadership at the US Securities and Exchange Commission (SEC) is expected to change on January 20, but that won’t change the regulator’s enforcement plans.

Ripple Chief Legal Officer Stuart Alderoti tweeted On January 14, the SEC refused to postpone the hearing on the appeal of the fine.

Despite the SEC’s saber-rattling, Ripple-bound XRP investors have not been deterred. The XRP price tear down and go up to $2.99 ​​(or above $3.00). Coinbase). According to CoinGecko, the price has increased by 15.8% since this time yesterday.

regulator He filed his appeal in mid-October 2024 after a Decision of July 2023 It partially approved Ripple, concluding that the company’s sale of XRP to retail investors on digital asset platforms does not violate US securities laws.

But things haven’t been smooth sailing for Ripple Labs. Court in August 2024 Ripple found liable for $125 millionthe firm announced that it had violated securities regulations during the fundraising. The civil case was first filed in late 2020 under former SEC Chairman Jay Clayton.

Alderoty criticized the use of taxpayer dollars, but expressed confidence in Ripple’s position. He expressed concern about the waste of resources because he believes changes in SEC leadership coming with the Trump administration will negate the legal battle anyway.

Ripple’s chief legal officer wrote that the “crypto war will end at the SEC” when the new administration takes over on January 20. He described the refusal to postpone the appeal hearing as a “waste of time and taxpayer dollars.”

CEO Brad Garlinghouse expressed a similar stance tweet own. He described the decision as “very on brand” for current SEC Chairman Gary Gensler. He said he “totally ignores the 2024 election and the American public” and is committed to “his failed deregulation agenda.”

Ripple has been active in changing the political climate in anti-crypto. In 2024, he contributed $25 million to the Fairshake PAC for “pro-crypto” candidates. three times.

Edited by Stacey Elliott.