XRP Lawyer: SEC Could Take 200 Cryptocurrency Enforcement Actions in Next 2 Years

XRP Price News: XRP Attorney John Deaton Says The Political And Economic War Against Crypto Is Real. He predicts that the U.S. may not introduce cryptocurrency legislation until the end of 2025. Deaton referred to Barny Frank’s comments that Signature Bank was targeted because of its ties to cryptocurrency companies. The battle in court will eventually become clearer, he said. The attorney also referred to recent court arguments in the Grayscale v. SEC case, in which the judge questioned the regulator’s intentions behind not approving the firm’s spot bitcoin ETF application.

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Meanwhile, recent reports suggest that the highly anticipated summary judgment in the Ripple lawsuit against the U.S. Securities and Exchange Commission (SEC) could be coming in the next few weeks. The stakes in the case are high as the verdict could have long-term implications for the future of the cryptocurrency market.

Ripple vs. SEC Case Heads to Supreme Court

Speaking with Deaton, Professor JW Verret of George Mason University’s Scalia School of Law said the amicus brief in the Ripple case would be important if the case made it to the Supreme Court. The XRP lawyer said he has heard rumors that the SEC plans to take 200 enforcement actions against the cryptocurrency market over the next two years. The rumor comes against the backdrop of recent U.S. enforcement actions against stablecoin operations and cryptocurrency staking services. He believes the SEC’s agenda is to crush cryptocurrencies and allow incumbents to come in and get a bigger share of infrastructure and retail.

Also read: Coinbase and other crypto stocks soar as Bitcoin price tops $26,000

Meanwhile, XRP prices have been rising over the past few days as the cryptocurrency turned bullish as U.S. bank stocks tumbled.

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