EddieJayonCrypto
18 Feb 25
Former SEC Internet Enforcement Office director John Reed Stark predicts that the SEC will soon pause or withdraw all crypto-related appeals, including the Ripple case. This follows the SEC's apparent halt of the Coinbase case. The SEC's newly formed crypto task force and changes in leadership, incl...
Former SEC Internet Enforcement Office director John Reed Stark predicts that the SEC will soon pause or withdraw all crypto-related appeals, including the Ripple case. This follows the SEC's apparent halt of the Coinbase case. The SEC's newly formed crypto task force and changes in leadership, including the appointment of SEC Commissioner Mark Uyeda as acting chairman, are driving these developments. Stark also anticipates a stop to all informal and formal SEC crypto-related investigations.
"Expect all crypto-related appeals, including the appeal of the Ripple matter, to pause or even more likely, to be fully withdrawn," he said. This comes after the SEC has seemingly halted the Coinbase case.
Recently, the SEC told the Second Circuit that its newly formed crypto task force may help resolve its enforcement case against the leading US cryptocurrency exchange. Earlier this February, the SEC also requested a two-month pause in the Binance case. The drastic changes are taking place after SEC Commissioner Mark Uyeda was appointed as the agency's acting chairman on Jan. 20. The SEC launched its cryptocurrency-focused task force, which aims to create clear rules for the industry, last month. As reported by U.Today, Reed Stark previously opined that the SEC's cryptocurrency unit was "dead and buried." The SEC's new leadership recently demoted Jorge Tenreiro, the top litigator. Stark now believes that all informal and formal SEC crypto-related investigations will be ground to a "screeching halt."