CarderEmpire
Staff Member
For investors eagerly anticipating the emergence of an XRP-spot ETF market, the SEC’s path toward a successful appeal remains uncertain.
If the SEC chooses to pursue the appeals process, it may eventually reach the US Supreme Court. In November, Ripple CEO Brad Garlinghouse expressed confidence in an appeal, noting,
“The current Supreme Court, we’d love to see the Vegas odds on how that would go. They have not been friendly to regulators.”
Several potential obstacles stand in the way of an SEC appeal against the Programmatic Sales ruling:
SEC v Coinbase case (COIN): Investors are awaiting a court ruling on Coinbase's Motion to Dismiss (MTD). Filed in August, Coinbase's MTD argues that the SEC lacks the statutory authority to regulate cryptocurrency exchanges. If Judge Katherine Failla grants the MTD, the SEC's ability to regulate the US digital asset space through enforcement actions may be constrained.
Office of Inspector General (OIG) investigation into crypto conflicts of interest within the SEC: If the OIG uncovers evidence of misconduct, US lawmakers could compel the SEC to relinquish its oversight of the US crypto market. The investigation, which involves former SEC Director William Hinman, has become intertwined with the SEC v Ripple case.
US Presidential Election: A victory for the Republican Party could lead to leadership changes at the SEC. Republican frontrunner Trump has recently softened his stance on cryptocurrency. A crypto-friendly SEC Chair could potentially halt ongoing cases against US digital asset firms not implicated in fraudulent activities.