Regulation
Could Kamala Harris End Ripple’s SEC Lawsuit? MetaLawMan Steps In
For those hoping that the Ripple vs. SEC case will end soon, attorney James Murphy, aka MetaLawMan, has an answer. His speculation comes after billionaire investor Mark Cuban hinted that Kamala Harris is taking a more favorable stance on the cryptocurrency, which has sparked discussion within the XRP community.
Here’s What Can End the XRP Lawsuit!
The XRP lawsuit has been a hot topic in the cryptocurrency world, attracting considerable attention from investors. According to media reports, Mark Cuban was contacted by Kamala Harris’ team with multiple questions about cryptocurrencies. In this regard, MetaLawMan’s comment further fueled the discussion, suggesting that Kamala Harris’ potential crypto-friendly stance could lead to the dismissal of the ongoing XRP lawsuit and other cases against cryptocurrency firms.
In this regard, Murphy outlined several steps toward a genuine crypto pivot, including firing SEC Chairman Gary Gensler, revoking Operation Chokepoint 2.0, and dropping cases against major crypto firms like Ripple, Coinbase, Kraken, and Binance. He even suggested signing a bill to repeal SAB121 and grant Custodian Bank a Federal Reserve master account. These steps, according to Murphy, would help create crypto-friendly policies.
Kamala Harris and the Future of Cryptocurrency Regulation
Mark Cuban has hinted that Kamala Harris may take a more benign approach to cryptocurrency regulation, signaling a new era of openness to innovation. In an email to Politico, Cuban mentioned that he had heard rumors about Harris’ plans to embrace artificial intelligence, cryptocurrency, and innovative governance, although he had not heard them directly from her.
However, if these policies go into effect, they will mark the end of XRP lawsuits and other cases against cryptocurrency companies, marking a major victory for cryptocurrencies.
Cryptocurrency Policy
Meanwhile, all eyes are on the Bitcoin Conference 2024, where both Donald Trump and Kamala Harris are expected to speak on cryptocurrency policy. Bitcoin Magazine CEO David Bailey confirmed talks with Harris’ campaign, suggesting it would be a strategic move to restore the Democrat’s crypto positioning. Gemini co-founder Tyler Winklevoss also questioned Vice President Kamala Harris’ pro-crypto talks, as it is too late to take a position.
While pro-XRP advocate Bill Morgan sees this as a positive step, indicating an opening to new cryptocurrency policies, some users are skeptical given the administration’s past anti-crypto stance.
Cryptographic reaction
Despite the negativity, the news has boosted market confidence, sparking discussions about a potential shift in U.S. policy toward cryptocurrency firms and the possibility of dropping the XRP lawsuit. Harris’ involvement could signal a significant shift in the crypto space, potentially leading to a more favorable regulatory environment and ending Ripple’s long-running legal battle with the SEC.