Under Atkins SEC may drop XRP lawsuit as pressure mounts

The SEC is unable to make any concrete decision regarding the ongoing lawsuits with individual coins so far. However, the same is on the verge of creating a market brawl. With a pro-crypto president like The US got, traders don’t expect this SEC clutter to last long.  

What could the SEC be thinking? The main notion at the moment seems to be buying time to mold the course outcomes in favor. Recently, the CoinBase case showed the same.  

SEC launched random cases against coins under Gary Gensler. However, Atkins, the new CEO, is following a completely different path now. He is rethinking the major disputes with Ripple, Krane, and others.  

During his ascension, Trump promised that he would do everything in his might to make the crypto market seamless and concern-free. He also assured that the typical brawls with the SEC will be gone for good soon.  

The Ripple Case  

SEC, however, went all lengths in the Ripple case. The case started in 2020. So far, it is the biggest legal battle fought by any coin against the regulatory authorities. The next date of hearing is 16th April. However, most traders are hopeful that the SEC will change its stance since the principles have changed under the new CEO.  

Eleanor Terrett, the popular coin journalist, said in a byte that Capitol Hill might be focusing on the cases with the closer deadline now, upon request from the SEC. That’s why there hasn’t yet been any closure to the Kraken and Ripple cases.  

The CoinBase Case 

In the CB case, the SEC demanded an extension of 1 month. However, there have been no such moves in Ripple’s cases. Experts say that this one wouldn’t be as easy as it seems. Firstly, the case verdict will have broader significance towards the crypto rules that will be used to govern the sector in the future.  

Role of The Crypto SubCommittee 

The crypto sub-committee will include the Congress members. If the committee finds that the SEC crossed the line in the Ripple case, they can formally request the agency to reevaluate their stance. However, traders are rather hopeful that Trump will personally intervene here. The new D.O.G.E department is already planning to investigate the case freely.  

The bottom line is that the SEC’s principal stance has changed by now. So, broader agencies must give the necessary time that the SEC demands. Upon unpleasant outcomes, Congress or DOGE can make their moves.