With less than a month until the new US presidential administration and Congress are sworn into office, many in the digital asset industry are speculating that a change in leadership could lead to more favorable regulations and laws. .
For some executives, a change in U.S. government policy could become apparent through Securities and Exchange Commission action. Under SEC Chairman Gary Guenther and his predecessor Jay Clayton, the commission has filed multiple lawsuits against U.S. crypto companies, including Ripple Inc. and Coinbase Inc., over alleged offerings of unregistered securities. An enforcement suit was filed.
Ripple Chief Legal Officer Regulators Expect 2025. source: Stuart Alderotti
In a Dec. 31 X post, Ripple Chief Legal Officer Stuart Alderroti said: said He wanted the SEC to confirm what he considered “principles” for regulating digital assets, such as that “tokens may be subject to securities transactions, but they are never securities.”
Ripple is currently appealing an August 2024 ruling in a lawsuit against the SEC that held the company liable for $125 million in damages.
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People like Coinbase Chief Legal Officer Paul Grewal. I saw it To uphold the implications for the SEC of the U.S. Supreme Court overturning the Chevron Doctrine in 2024. The June opinion rejected the court's practice of generally deferring to agency interpretations of statutes and regulations, required courts to “exercise independent judgment,” and suggested: Judges could change their approach to SEC litigation involving digital assets.
What will happen to the crackdown on cryptocurrencies in the United States?
There are several lawsuits against crypto companies between the SEC and the Commodity Futures Trading Commission (CFTC), which are expected to proceed in 2025.
After sentencing former FTX executives to one year and former Binance CEO Qiao Changpeng to four months in prison, U.S. authorities recently announced that former Celsius CEO Alex Mashinsky and Montenegrin The government plans to consider criminal proceedings against Do Kwon, co-founder of Terraform Labs, who was extradited by the government. .
A change in leadership at the U.S. Attorney's Office in New York, which handles many civil and criminal cases against crypto companies and executives, or at the SEC or CFTC could upend existing cases.
President Donald Trump has already proposed replacing Gensler with former SEC Commissioner Paul Atkins and replacing Damian Williams with Jay Clayton as U.S. Attorney for the Southern District of New York.
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