SEC's XRP Case Delay: Internal Disagreements or Waiting for Other Crypto Rulings

The U.S. Securities and Exchange Commission (SEC) has yet to close its case against Ripple, the company behind the cryptocurrency XRP. This has led to speculation and theories from legal experts in the crypto industry. One such theory comes from a crypto lawyer who suggests that the SEC's delay in closing the case could be due to the agency's internal disagreements over the classification of XRP as a security.

The SEC first filed a lawsuit against Ripple in December 2020, alleging that the company had raised over $1.3 billion through the sale of unregistered securities in the form of XRP. Ripple has maintained that XRP is not a security but a currency, and has been fighting the SEC's allegations in court.

The crypto lawyer, who wished to remain anonymous, believes that the SEC's internal disagreements over the classification of XRP could be the reason behind the delay in closing the case. The lawyer suggests that some SEC officials may view XRP as a currency, while others may still consider it a security. This internal disagreement could be causing a delay in the SEC's decision-making process.

Another theory suggests that the SEC may be waiting for the outcome of other ongoing legal cases involving cryptocurrencies before making a final decision in the Ripple case. The SEC has been actively pursuing legal action against several other crypto companies, and the outcomes of these cases could potentially influence the SEC's decision in the Ripple case.

Regardless of the reason for the delay, the ongoing legal battle between Ripple and the SEC has had a significant impact on the cryptocurrency market. The uncertainty surrounding the classification of XRP has led to a decline in its value and a decrease in trading volume. Additionally, the case has raised questions about the regulatory landscape for cryptocurrencies in the United States and the potential impact of SEC enforcement actions on the industry.

The outcome of the Ripple case will likely have significant implications for the crypto industry as a whole. If the SEC succeeds in classifying XRP as a security, it could set a precedent for the regulation of other cryptocurrencies and potentially lead to increased scrutiny from the agency. On the other hand, if Ripple prevails in its argument that XRP is not a security, it could pave the way for greater acceptance and adoption of cryptocurrencies in the United States.