Good news for Ripple? SEC Anti-Crypto Commissioner Caroline Crenshaw May Not Be Renominated

TL;DR

Ripple supporters are optimistic about possible changes in SEC leadership, including departures of anti-crypto officials. Donald Trump’s nomination of pro-crypto lawyer Paul Atkins as the next chairman of the SEC is fueling speculation that the agency may take a more innovation-friendly approach, possibly leading to a settlement in the case against Ripple. The XRP army is fueling the rumors

Despite Ripple’s numerous partial court victories, the legal battle against the US Securities and Exchange Commission (SEC) is still ongoing. The fight came close to a final resolution earlier this year when federal judge Torres ordered the company to pay a $125 million penalty for violating certain laws.

Although Ripple was willing to comply with the ruling, the securities regulator appealed a 2023 verdict, thus extending the case. After all, the said fine represented only a fraction of the $2 billion the SEC initially insisted on.

According to some industry participants, however, Ripple has a better chance of emerging victorious due to a combination of factors. Perhaps the most important include the upcoming resignation of SEC Chairman Gary Gensler. He remained at the helm for more than three years, during which the agency filed numerous lawsuits against crypto companies.

The end of his reign was rather expected, as Donald Trump promised to fire him after officially becoming the President of the United States.

More recently, the Ripple community celebrated another potential change in the structure of the SEC. According to Eleanor Terrett (Fox Business reporter), Commissioner Caroline Crenshaw will not be reappointed to her position. It is known for its anti-crypto stance, warning about the potential for fraud and manipulation in the sector. Earlier this year, Crenshaw even opposed the approval of Bitcoin (BTC) ETFs on the spot.

Those cheering his potential absence from the SEC include popular X-users like Moon Lambo and Zach Humphries. Fred Rispoli, an American lawyer who has been following developments in the Ripple v. SEC case, also seemed pleased.

The new leader of the SEC

In fact, the Commission could go in a pro-crypto direction next year under the leadership of the next chairman, Paul Atkins, who was appointed by Donald Trump. He has been an advocate for the cryptocurrency industry, advocating for a regulatory approach that encourages innovation in the space while ensuring investor protection.

It will be interesting to see if the SEC will become less hostile towards the industry during his reign and if the Ripple case will eventually conclude with a settlement.

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