Taking a more moderate approach with the Donald Trump administration, the Securities and Exchange Commission (SEC) has retreated from most of the major cryptocurrency cases launched under former chairman Gary Gensler.
Therefore, the new SEC administration has dropped one lawsuit against cryptocurrency companies one by one and concluded its investigation.
At this point, Hesterpurse, a member of SEC’s newly formed cryptographic task force, has committed to “saving” the SEC from various crypto-related litigation. The SEC has dropped the lawsuits against Robinhood, Coinbase and Consensys while halting the lawsuits against Binance and Tron (TRX).
Finally, the SEC also dropped the lawsuit against cryptocurrency exchange Kraken.
However, not all companies are spared from the threat of SEC litigation. Cases filed against crypto companies under Gensler are ongoing, including Ripple, Cumberland, DRW, and Pulsechain. Additionally, Unicoin, Crypto.com, and immutable investigations have not yet been closed.
The cryptocurrency industry is waiting for the longest-running ripple cases to be closed after Binance, Tron (TRX), Coinbase and Kraken cases.
While the days were counting down in the Ripple case, former White House communications director Anthony Scarumucci alleged that the SEC had dropped the lawsuit against Ripple.
In a recent podcast with Scott Melker, Scaramucci made a bold claim about Ripple-Sec.
During the interview, Scaramucci listed some of the cases Melkersec dropped and inserted it saying that Ripple should be added to the list.
Scalamucci claimed that the Ripple case has already been removed, but the SEC has not yet announced an official decision regarding the Ripple case.
The Sec-Ripple case will continue to be heard in the Court of Appeals.
*This is not investment advice.
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