Since that blithering Trump fellow made his “comeback,” governments everywhere are going bonkers, acting all topsy-turvy! 🤪
And wouldn’t you know it, that U.S. Securities and Exchange Commission (SEC), those dreadful blighters, are now pretending to like crypto, just like the previous grumpy administration did. It’s enough to make your teeth itch! 🦷
In a truly scrumdiddlyumptious (or maybe not so much) development, the SEC has chucked one of its top crypto-bashing lawyers into the IT department. Can you imagine? 🖥️ He’s probably trying to figure out how to turn a computer on. Bless his cotton socks…NOT!
SEC Shoves Crypto-Hater Into IT Dungeon
Apparently, according to the official gobbledegook, the SEC is now trying to “repair” its already ghastly relationship with the crypto gang. They’re about as good at repairing things as a chocolate teapot! ☕
So, they’ve exiled their top litigator to the land of computer systems. Maybe he’ll learn to code… or maybe he’ll just break all the computers. Who knows? 🤷
This Jorge Tenreiro chap, who was knee-deep in lawsuits against crypto exchanges and platforms (the nasty little snitch!), has been banished to the IT department. Serves him right! 😈
During his reign of terror as senior lawyer, he even helped write accounting guidelines that made it practically impossible for banks to look after crypto for their clients. What a rotter! 😠
He was the big cheese when it came to deciding how far the SEC’s sticky fingers could reach into the crypto pie. Now, he’s probably trying to find the “on” button. Ha! 😂
Now that the U.S. has a president who’s pretending to like crypto (fancy that!), the SEC is backing away from the nasty, antagonistic approach used by that old sourpuss, Gary Gensler. Good riddance!
Crypto Task Force: A Load of Balderdash?
This latest stunt by the SEC comes as Hester Peirce (sounds like a character out of a Dickens novel!) has outlined some “major priorities” for the newly formed crypto task force under the Trump… erm, *present* administration. 🙄
According to Hester, there are oodles of issues that the task force will have to deal with. First, they’ll try to figure out if crypto assets are securities or something else entirely. Good luck with that, you twits! 🍀
Second, they’ll try to define the boundaries of the SEC’s jurisdiction. It’s like trying to herd cats, I tell you! 🐱
Third, they’ll try to come up with a process that allows token offerings to get temporary relief while making sure everyone knows what’s going on. Blah, blah, blah…boring! 😴
And there’s more! They’ll review registration frameworks, crowdfund regulations, and all sorts of other tedious things. It’s enough to make your brain explode! 🤯
They’ll also look at updating the broker-dealer framework and developing custody solutions for investment advisors. Yawn! 🥱
And, as if that wasn’t enough, they’ll try to figure out the regulatory framework for crypto ETPs. Honestly, who cares? 🤷♀️
Finally, (thank goodness!) the SEC’s task force will try to cooperate internationally. It’s about time! 🌍
Is This the End of the Ripple Mess?
With the SEC doing a complete 180 on crypto, everyone’s wondering about the Ripple case. Will they finally give up and go home? 🏡
With the SEC shifting its stance, many believe that a settlement or dismissal is on the cards. Fingers crossed! 🤞
However, since the case is still being appealed, and Ripple has to submit its brief by April 16th, 2025 (that’s ages away!), the final decision won’t happen until later. Bother! 😠
So, if the SEC decides to drop the case, it’ll probably happen in April or May, after they get a new boss in March. Let’s hope the new boss has a bit of sense! 🙏
Read XRP‘s Price Prediction 2025–2026 (if you’re feeling particularly foolish)
What It Would Mean for XRP (Probably Nothing, Let’s Be Honest)
If this whole thing means the end of Ripple’s legal woes, it would be jolly good news for XRP. Hurrah! 🎉
With legal clarity (whatever that is!), institutional investors might actually take a look at the altcoin. And if that happens, XRP might actually reach new highs. But don’t hold your breath! 🌬️
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2025-02-06 15:25