Could the SEC Withdraw its Case Against Ripple?
Yassin Mobarak, founder of Crypto VC firm Dizer Capital, suggests that the United States Securities and Exchange Commission (SEC) might withdraw its accusations against Ripple and its CEO Brad Garlinghouse. Mobarak believes that the SEC uses litigation to maintain uncertainty in the crypto sector, and a trial could expose their corruption. He argues that XRP has brought clarity to the market, which goes against the SEC’s agenda. However, many users are skeptical about this scenario, considering the SEC’s determination in previous cases.
A Recap on the Ripple v. SEC Legal Dispute
The legal battle between Ripple and the SEC began in December 2020 when the agency sued Ripple for allegedly trading billions of dollars worth of XRP as an unregistered security. The case has gone through multiple heated moments and reached a peak in July this year when a US court ruled that most of Ripple’s XRP sales did not constitute investment contracts. The SEC appealed this decision but had their request dismissed by Judge Torres. The trial date is set for April 23, 2024.
Hot Take: Ripple vs. SEC – A Tug-of-War with Uncertain Outcome
The ongoing legal battle between Ripple and the SEC continues to generate speculation and uncertainty in the crypto industry. While Yassin Mobarak suggests that the SEC might withdraw its case against Ripple to avoid negative exposure, others remain skeptical due to the agency’s determination in previous cases. Regardless of the outcome, litigation itself becomes a weapon that sustains a cloud of uncertainty over the entire industry. As the trial date approaches, all eyes will be on Ripple and the SEC as they engage in a high-stakes tug-of-war with an uncertain outcome.
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