Ripple News: SEC to Discuss Litigation Claims in First Closed-Door Meeting Under Uyeda

The U.S. Securities and Exchange Commission (SEC) will hold a closed-door meeting on January 23 to address litigation claims. This will be the first such meeting under acting SEC Chairman Mark Uyeda, following Gary Gensler’s resignation.

The agenda includes litigation resolutions, administrative settlements, and enforcement proceedings, fueling speculation about a Ripple lawsuit settlement.

Ripple Vs. SEC Speculation Grows Ahead of Meeting

Acting Chairman Mark Uyeda, a pro-crypto voice, will preside over the meeting, a routine SEC process. Scheduled at 2:00 p.m. ET, it will occur remotely or at SEC headquarters in Washington, D.C.

The Sunshine Act notice outlines the sensitive topics under review, including enforcement and administrative matters.

The meeting marks a notable shift in leadership dynamics, with Uyeda temporarily at the helm. His critical stance on the SEC’s crypto policies adds weight to the session’s timing. While the meeting remains closed to the public, it has sparked optimism among Ripple supporters.

Ripple community members see this meeting as a potential breakthrough in the lawsuit that has been lingering since December 2020. Many hope Uyeda will take steps to end the SEC’s legal battle over XRP, Ripple’s cryptocurrency. The agenda’s mention of “litigation claims” has amplified settlement expectations.

However, former SEC official Marc Fagel dismissed the hype, explaining that these meetings are held weekly and rarely yield monumental announcements. FOX Business journalist Eleanor Terrett, who highlighted the meeting, echoed Fagel’s sentiment, urging caution among the XRP community.

Yup. Just pointing out its the first one since Uyeda took the reins.

— Eleanor Terrett (@EleanorTerrett) January 21, 2025

Ripple’s legal case is currently in the Second Circuit Court of Appeal, with the SEC seeking to overturn a previous ruling. The District Court previously deemed Ripple’s programmatic XRP sales non-securities a key victory for the company.

Mark Uyeda Leads First SEC Meeting on Litigation

Uyeda’s interim chairmanship is a potential turning point for the crypto industry. Since joining the SEC in 2022, Uyeda has criticized its enforcement-heavy approach to crypto regulation. His recent launch of a task force to develop clear crypto policies underscores his commitment to change.

While his leadership is temporary, Uyeda’s actions have reinvigorated debates about the SEC’s direction. His pro-crypto stance raises questions about whether he might resolve high-profile cases like Ripple’s. All eyes are on January 23 as stakeholders await updates on this pivotal meeting.

The Ripple lawsuit’s outcome could set a precedent for crypto regulation in the U.S., making this meeting one to watch.

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