Everything is ready for Donald Trump to assume the presidency of the United States on January 20. For that date, a change of command is expected that includes the departure of several officials who head federal agencies, one of them being Gary Gensler, president of the Securities and Exchange Commission (SEC).
However, according to information disseminated by the Ripple team, the SEC managed by Gensler insists in advancing the lawsuit filed against the XRP issuing company.
According to points at X Ripple’s legal director, Stuart Alderoty, the SEC will not postpone the presentation of a brief that must be presented as part of the appeal it is carrying out against the decision made a few months ago by the courts.
This is a ruling issued in 2023 by federal judge Analisa Torres, establishing that sales on exchanges of the XRP token did not violate the country’s securities laws. Rejecting this decision, the SEC made a court filing last October, giving notice to the Second Circuit Court of Appeals.
The agency’s intention is to appeal the ruling, considering that the district court’s ruling “conflicts with decades of Supreme Court precedent and securities laws.” To continue the process, the deadlines are set for this January 15 as deadline to file the appeal request.
Alderoty explains that, given the proximity of Trump’s inauguration, the company asked the SEC to postpone the presentation of the document. A request that was denied.
With this refusal, the rumors that a few days ago indicated that Gary Gensler’s team was willing to advance with its demands until the last moment are confirmed, taking advantage of the days remaining before the change of government.
Consequently, the official, together with SEC trial lawyer Jorge Tenreiro, is preparing to file a new judicial action before new Trump-appointed president Paul Arkins takes office.
As reported by CriptoNoticias, this is a step that for some analysts could pose new challenges for Ripple, although optimism predominates among the company’s executives. This, given the imminent departure of Gensler and the expectations generated by Trump’s pro-Bitcoin promises. The president has already appointed several officials who show support for the ecosystemincluding Atkins.
And although it is not clear what steps the new administration will take to resolve the lawsuits left pending by Gensler’s SEC, it is thought that it is most likely that the same remain frozen and do not thrive.
Coinbase’s recent victory against the federal agency, which received a mandate from the Supreme Court to clarify your guidelines regulatory, are also considered a point in favor of the Bitcoin industry.
Hence, Ripple CEO Brad Garlinghouse echoed Alderoty’s statement, hinting that the SEC’s approach to cryptocurrency enforcement could change after Trump’s inauguration.
“Gensler, very true to his style (totally contemptuous of the 2024 elections and the American public), is fully committed to his failed regulation by enforcement agenda until the bitter, bitter end,” he concludes.
