Bitrabo Editorial
James Murphy, the founder of Murphy & McGonigle, shared insights on how President Biden’s policy changes might affect ongoing legal battles like the Ripple Labs vs. SEC case.
SEC’s strict stance on cryptocurrency, focusing on investor protection, might see a shift influenced by political changes, potentially affecting ongoing legal battles.
Ripple’s Opportunity with Biden’s Crypto Approach
Murphy advised against settling with the SEC under the current leadership, suggesting awaiting potential changes post elections before making decisions.
He speculated on possible changes with new leadership, anticipating dismissals of ongoing cases lacking fraud or victims under a different SEC regime.
Biden’s administration appears more open to cryptocurrencies, following Trump’s pro-crypto stance. Recent political statements hint towards a softer approach towards crypto regulation.
Biden’s recent approval of a spot Ethereum ETF signifies a shift in approach, compared to past reluctance due to market concerns.
Murphy emphasized the independence of judicial rulings in light of administrative changes, noting that Biden’s stance might influence SEC’s negotiation positions in potential settlements.
While some suggest settling for Ripple given uncertainties, Murphy stays neutral, highlighting the importance of careful considerations amidst changing political landscapes.
XRP was trading at $0.52737 at the time of reporting.