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02/06 17:15

XRP Lawsuit News: Can Gensler’s Replacement Paul A

XRP Lawsuit News: Can Gensler’s Replacement Paul Atkins Dismiss Ripple Case?

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 conservative legal circles and among the Republican establishment.
One major case before the federal courts is the ongoing Ripple (XRP) lawsuit, 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 when sold to retail investors on exchanges but was a security in institutional sales. 
The SEC initially sought a $2 billion fine against Ripple but was instead given a $125 million 
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