The most anticipated question of who could be the next SEC chairman finally came to an end when President-elect Donald Trump officially nominated Paul Atkins as the next SEC chairman. But investors are still wondering how Atkin will resolve the ongoing crypto cases. Paul Atkins is a former SEC commissioner known for his pro-crypto views. He has consistently supported fair and transparent crypto regulations that encourage innovation in the crypto industry without suppressing technological advancements.
In a recent crypto article, Arthur (@XrpArthur) explained why Donald Trump’s nomination of Paul Atkins to succeed Gary Gensler as chairman of the US SEC is great news for Ripple, XRP and the entire industry. crypto industry.
Why this change is important
The crypto space has seen the SEC go too far in many crypto cases during Gary Gensler’s tenure at the SEC. Thanks to its aggressive and manipulative stance, the price of XRP has fallen over the years. The Ripple v. SEC lawsuit, which began years ago, was one of the most high-profile cases, causing uncertainty and slowing innovation in crypto. The decade-long affair has scared off investors and many new companies who have pushed their entry into the market for fear of regulations.
However, Paul Atkins has a different approach. It should fill the current gaps in the system. The priority will be to prioritize fair regulations that will support the growth and innovation of cryptocurrencies. Trump played with timelines before the official accusation that he announced a pro-crypto staff to gain investor trust. That said, Ripple is also optimistic that Atkins’ appointment, if it comes to pass, could help Ripple end this lawsuit for good.
What does this mean for Ripple and XRP?
The most significant change under Atkins could be a quicker resolution to Ripple’s ongoing lawsuit with the SEC. If the case is settled faster, XRP could finally be free of its legal problems. This would make XRP more attractive to investors, especially institutions, who are hesitant due to legal uncertainty.
Additionally, with clearer and more predictable regulations under Atkins, XRP could gain more legitimacy in the US market. This could lead to greater adoption of XRP, particularly by institutional investors who are awaiting legal clarification before entering the market.
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Bullish outlook for XRP
With Paul Atkins at the helm of the SEC, XRP could see several positive outcomes. First, the token could gain stronger legitimacy in the United States, which is crucial for its growth. Second, new waves of institutional and retail investors could flock to XRP, sensing an end to the legal uncertainty that has plagued it for years.
On a positive note, Ripple’s on-demand liquidity (ODL) service, which is built on top of XRP, could also see mass adoption. As more businesses and financial institutions use RippleNet for cross-border payments, the value and use cases of XRP could increase significantly.
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