SEC Drops Lawsuit Against Ripple? Scaramucci Makes Bold Claim!

Shocking Twist: SEC Drops Lawsuit Against Ripple?

The SEC has reportedly withdrawn its action against Ripple, according to former White House Director of Communications Anthony Scaramucci. Scaramucci recently made this audacious claim in an interview with the Wolf of All Streets podcast. Scaramucci discussed Donald Trump’s pro-crypto policies and the industry’s regulatory structure with podcast presenter Scott Melker throughout the conversation.

The SEC’s decision to dismiss its case against companies involved in cryptocurrency was one of the other topics they talked about. Melker pointed out that the SEC has abandoned lawsuits against ConsenSys, Gemini, Uniswap, Coinbase, and Robinhood, among others. Scaramuci, however, interrupted, advising him to include Ripple on the list. The SEC may have withdrawn the Ripple action, Melker replied, echoing, “Yeah, that’s right.”

SEC’s Silence on Ripple Appeal: Legal Experts Predict Prolonged Court Battle!

Although the matter is still pending in the Court of Appeals for the Second Circuit, the SEC has not yet made an official announcement regarding its verdict in the Ripple complaint. Experts in law say the July 2023 decision makes it more difficult for the SEC to reject the Ripple case. In the past, the judge decided that Ripple’s XRP payouts and programmatic sales were not securities. However, she discovered that Ripple had broken the law when it sold to institutional investors in the first place.

The following year, the judge imposed an injunction that barred Ripple from selling to institutional investors without the SEC’s approval, and he slapped the business with a $125 million punishment for this infraction. The injunction is the primary reason the SEC has not yet withdrawn the appeal, according to a recent X thread by attorney Jeremy Hogan, a partner at the Hogan & Hogan law firm. Noting that such a move could push the case to April or May 2025, he underlined how difficult it would be to overturn the appeal.

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