Ex-Fox Business Journalist Is Not Surprised Ripple Is Not In This Major SEC Announcement

The U.S. Securities and Exchange Commission (SEC) has formally announced the dismissal of its litigation against cryptocurrency firms Kraken, Consensys, and Cumberland. Former Fox Business journalist Eleanor Terrett reported the development, highlighting that Ripple was not included in the announcement.

Terrett noted that while some may have expected Ripple’s case to be addressed simultaneously, the procedural differences make its resolution distinct from the other cases.

SEC’s Legal Actions and Dismissals

The SEC’s lawsuits against Kraken, Consensys, and Cumberland were part of the agency’s broader enforcement efforts against companies operating in the cryptocurrency space. The decision to dismiss these cases suggests a shift in the SEC’s litigation strategy, though the reasons behind the dismissals remain unspecified in the agency’s announcement.

Terrett pointed out that Ripple’s case differs from the others because the SEC must first request Judge Analisa Torres of the U.S. District Court for the Southern District of New York to lift the standard injunction previously imposed at the SEC’s request. Once that process is completed, the SEC can vote on the final steps in the case, including its appeal withdrawal.

Ripple’s Case Nears Final Resolution

Terrett referenced a post by Stuart Alderoty, Ripple’s Chief Legal Officer, which provided additional details on the finalization of the SEC v. Ripple case. According to Alderoty, the SEC has already agreed to drop its appeal without conditions, and Ripple will withdraw its cross-appeal. As part of the resolution, Ripple will pay $50 million of the originally imposed $125 million fine, while the remaining amount will be returned to the company.

Alderoty explained that the SEC will now ask the court to lift the injunction, and the process will be subject to the necessary commission vote, drafting of final documents, and standard court procedures. He indicated this should be the last update on the case, signaling that the long-running legal battle between the SEC and Ripple is nearing its conclusion.

Broader Implications

The SEC’s dismissal of cases against Kraken, Consensys, and Cumberland, along with the expected resolution of the Ripple lawsuit, reflects ongoing changes in the agency’s regulatory approach to the cryptocurrency industry. The outcomes of these cases may influence future enforcement actions and provide further clarity on the SEC’s stance regarding digital asset companies.

With Ripple’s case requiring additional procedural steps, the company awaits the court’s decision on lifting the injunction before the SEC can finalize its legal actions. While the agency has not publicly explained its rationale for the dismissals, these developments indicate that the regulatory landscape for cryptocurrency firms continues to evolve.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

---

Follow us on X, Facebook, Telegram, and  Google News