{"id":810152,"date":"2024-12-04T22:45:00","date_gmt":"2024-12-05T04:45:00","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/04\/xrp-lawsuit-news-can-genslers-replacement-paul-atkins-dismiss-ripple-case\/"},"modified":"2024-12-04T22:45:00","modified_gmt":"2024-12-05T04:45:00","slug":"xrp-lawsuit-news-can-genslers-replacement-paul-atkins-dismiss-ripple-case","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/04\/xrp-lawsuit-news-can-genslers-replacement-paul-atkins-dismiss-ripple-case\/","title":{"rendered":"XRP Lawsuit News: Can Gensler\u2019s Replacement Paul Atkins Dismiss Ripple Case?"},"content":{"rendered":"
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President-elect Donald Trump has chosen Paul Atkins, a pro-crypto figure, to chair the Securities and Exchange Commission (SEC), according to reports by Unchained. Current SEC Chair Gary Gensler announced he will step down on January 20<\/a> when Trump is inaugurated. Atkins, who served as an SEC commissioner under President George W. Bush, is well-respected in conservative legal circles and among the Republican establishment.<\/p>\n

One major case before the federal courts is the ongoing Ripple (XRP) lawsuit<\/a>, in which the SEC claims Ripple violated securities laws by issuing XRP. In July 2023, Judge Analisa Torres ruled that XRP was not a security<\/a> when sold to retail investors on exchanges but was a security in institutional sales.\u00a0<\/p>\n

The SEC initially sought a $2 billion fine against Ripple but was instead given a $125 million penalty<\/a>. In October 2024, Judge Torres rejected the SEC\u2019s request to appeal, saying they didn\u2019t have strong enough reasons. Despite this, the SEC appealed to the Second Circuit Court, arguing the decision went against Supreme Court rulings.<\/p>\n

Curious about the Ripple vs SEC legal battle? Want to know how it could affect XRP? Read our XRP price prediction<\/a> to find out!<\/strong><\/p>\n

\u2018Paul Atkins is not what Trump Needs\u2019<\/strong><\/h2>\n

John Deaton recently explained <\/a>that Paul Atkins would be a very traditional choice, one that Wall Street would likely approve of. He stated that Atkins is someone who respects the SEC and its staff, but what is truly needed is someone who challenges the SEC\u2019s actions.\u00a0<\/p>\n

Deaton believes the SEC has harmed investors, rather than protecting them, and that a change in attitude is necessary. While Deaton would support Atkins if chosen, he feels he\u2019s not the right fit if President Trump aims to bring change to crypto regulation.<\/p>\n

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Trump picks former SEC head Paul Atkins to chair his SEC.<\/p>\n

Pros: <\/p>\n

He has advocated for reasonable (and workable) regulation in the digital asset space \u2013 especially with the exchanges.<\/p>\n

He’s a steady hand who was SEC chair for 8 years. It will be hard for the Dems to attack him.\u2026 https:\/\/t.co\/3RgVq0PxRL<\/a><\/p>\n<\/div>\n

\u2014 Jeremy Hogan (@attorneyjeremy1) December 3, 2024<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

Attorney Jeremy Hogan mentioned the cons of Atkins\u2019 appointment and wrote,<\/p>\n

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\u201cHe won\u2019t be the bull in the china shop many in the crypto space want. He will make measured and deliberate changes. Overall, I give his appointment a B+ for the digital asset industry, and that was good enough to get me a law degree so, yeah!\u201d<\/p>\n<\/blockquote>\n

FAQs<\/h2>\n
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Who is Paul Atkins and why is he important for crypto regulation?<\/strong><\/p>\n

Paul Atkins is a pro-crypto figure nominated as SEC chair by Trump, potentially influencing crypto policies and regulations.<\/p>\n<\/div>\n

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What happened in the SEC vs Ripple case?<\/strong><\/p>\n

The SEC sought a $2 billion fine against Ripple but was given a $125 million penalty. The SEC continues appealing the decision in higher courts.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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We’d Love to Hear Your Thoughts on This Article!<\/h2>\n
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Was this writing helpful?<\/h4>\n<\/div>\n<\/div><\/div>\n

Read More<\/a>
\n \ufeffAnjali Belgaumkar<\/p>\n","protected":false},"excerpt":{"rendered":"

President-elect Donald Trump has chosen Paul Atkins, a pro-crypto figure, to chair the Securities and Exchange Commission (SEC), according to reports by Unchained. Current SEC Chair Gary Gensler announced he will step down on January 20 when Trump is inaugurated. Atkins, who served as an SEC commissioner under President George W. Bush, is well-respected in<\/p>\n","protected":false},"author":1,"featured_media":810153,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[123807,318],"tags":[],"class_list":{"0":"post-810152","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-genslers","8":"category-lawsuit"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/810152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=810152"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/810152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/810153"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=810152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=810152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=810152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}