Is the Ripple Lawsuit Ending? SEC to Hold First Closed Meeting with Acting Chair Mark Uyeda

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The U.S. Securities and Exchange Commission (SEC) will hold its first closed meeting since Mark Uyeda took over as acting chair. The meeting, scheduled for Thursday, will involve commissioners, the counsel to the commissioners, the commission’s secretary, and recording secretaries. 

The topics on the agenda include the institution and settlement of injunctive actions, administrative proceedings, litigation claims resolution, and other matters related to examinations and enforcement.

This meeting comes shortly after Judge Torres’s recent decision in the case involving the SEC and Ripple. The court ruled that certain distributions of XRP do not count as securities since there was no investment of money involved. Despite this ruling, the SEC has filed an appeal, arguing that the court made errors in its decision, particularly regarding XRP’s classification when sold on digital asset exchanges.

Industry experts, including John Deaton, are calling for the case to be dismissed, especially in light of the shifting political landscape. Some suggest that a settlement between Ripple and the SEC is possible, which could clarify certain issues while leaving others unresolved. As the crypto industry continues to grow, public and private sector pressure may influence the SEC’s approach to enforcement-driven regulation.

Metalawman recently said that it is likely the SEC will soon release the Inspector General’s report regarding Bill Hinman’s conflicts of interest. He expressed confidence that there is no reason for this act of transparency to be delayed until Paul Atkins’ arrival.

Reacting to the same, Deaton said, “Releasing the IG report is an important and necessary step moving forward. If the people in charge don’t support releasing the report then they’re arguably no better than the ones before them.