xrp-usd The SEC's next roundtable on crypto regulation is sche
Quick overview
- The SEC’s upcoming roundtable on crypto regulation is set for June 9, potentially addressing the Ripple case.
- Commissioner Crenshaw expressed dissent against the SEC’s settlement with Ripple, arguing it undermines the court’s role in securities law interpretation.
- The outcomes of the roundtable could impact XRP holders and influence Ripple’s product development amid shifting regulatory views.
- Judge Torres denied a motion for an indicative ruling on settlement terms, emphasizing procedural inaccuracies and the lack of benefits for investors.
Live XRP/USD Chart
XRP/USD
The SEC’s next roundtable on crypto regulation is scheduled for June 9 and may include a discussion of the ongoing Ripple case. SEC Commissioners Caroline Crenshaw, Mark Uyeda, and Hester Peirce are set to give opening remarks, along with SEC Chair Paul Atkins, according to the agenda
This settlement, along with the programmatic disassembly of the SEC’s crypto enforcement program, does a tremendous disservice to the investing public and undermines the court’s role in interpreting our securities laws,” said Commissioner Crenshaw in his May dissent against the SEC and Ripple settlement agreement and joint filing. I cannot support this settlement.
Although there is no guarantee that XRP will be specifically referenced in the SEC’s announcement, holders might be indirectly affected by various potential outcomes. If the roundtable introduces a DeFi compliance framework or discusses new rulemaking possibilities, it may influence how Ripple and related companies develop their products and services.
Such changes could affect the market acceptance, regulatory status, and XRP litigation.
The Commissioner may have the chance to express disapproval of the SEC’s shifting views on crypto regulation since the agency dropped other high-profile cases, such as lawsuits against Coinbase (COIN) and Binance.
The SEC’s intentions may also become clearer through references to the Ripple case.
Judge Analisa Torres denied a motion for an indicative ruling on settlement terms because the US Court of Appeals granted a joint motion to put the SEC’s appeal on hold for both parties to settle. Citing procedural inaccuracies and insufficient justifications that a settlement benefits institutional investors and the general public, Judge Torres rejected the motion.
However, the SEC opted to submit a second request for an indicative ruling. The SEC must submit a status report on settlement proceedings by June 16 on the Court of Appeals’ order. An indicative ruling is important because it may decide whether the SEC continues its appeal against the Program and whether Ripple pursues its cross-appeal.
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.
Related Articles
www.fxleaders.com