SEC’s closed meeting to bring a wave in favor of Ripple. In the meeting scheduled for February 20, the commissioners to discuss their changed strategies, many speculate about a potential appeal withdrawal in the SEC Ripple Appeal case.
SEC to conduct a closed meeting on 20 February 2025, the meeting may be used as an opportunity to discuss its appeal strategy regarding Ripple. The meeting agenda has been reported, and it is about to discuss ongoing SEC vs crypto cases, and Ripple can’t be out of the topic of discussion.
It’s been a long since the dispute between Ripple and SEC went on. In 2020, the US Security Exchange and Commission (SEC) sued Ripple, claiming the company had broken the US security laws while it sold XRP to investors. Though the case was partially settled in August 2024, it isn’t fully resolved officially. The changed government under Donald Trump has made changes in the SEC including the appointment of Mark Uyeda as the acting chairman, and introduced the Crypto Task Force, headed by Hester Peirce, these change fuels a shift in the SEC’s approach to Ripple.
Ripple was not the only target of the SEC, the commissioners were against a number of crypto companies including Bitcoin and Binance, two of the largest crypto exchanges in the world.
SEC Closed Meeting Agenda
The upcoming SEC closed meeting addresses various legal matters, of which many are directly involved with the Ripple case. In the February 20 SEC closed meeting agenda, the commission will discuss:
- Institution and settlement of injunctive actions
- Institution and settlement of administrative proceedings
- Resolution of litigation claims
- Other matters associated with examination and enforcement proceedings
Crypto Task Force And Appeal
As the SEC’s closed meeting approaches, many are speculating a potential withdrawal of the Ripple case. Crypto Task Force, a new agency set up by Mark Uyeda, to oversee the crypto assets, bringing security and control over crypto assets, is poised to bring a resolution on non-fraud-related crypto cases, which includes Ripple.
Recently, many court filings related to crypto vs SEC cases were called for an extension, showing the role of the Crypto Task Force in resolving crypto cases. The extension along with Paul Atkinson’s confirmation as SEC Chairman enable the agency to put an end to the regulatory enforcement of crypto assets.
Since there are no fraud findings in the Ripple case, the chances of withdrawing the appeal are high. In addition, there are no due court filings in the Ripple case until April, putting the SEC under pressure to withdraw the appeal sooner. The acting Chairman, Uyeda has asked the SEC to end its war against crypto, showing his friendly approach towards digital assets.
If Ripple’s case against the SEC gets resolved, the company gets more operational freedom, enabling the issuance of more XRP, resulting in increased adoption.
A New Regulatory Wave
Trump is a crypto advocate, who always considered crypto as a future and tangible asset. The Trump government and his plan of appointing Paul Atkinson as SEC Chairman, who is a co-chairman of Token Alliance, a crypto advocacy organization, shows his approach to bringing crypto-friendly regulations in the US.
