The US Securities and Exchange Commission (SEC) may be on its way to freezing non-fraudulent cryptocurrency cases pending in court, according to a recent report. a report By Reuters. Some of these cases may end up being dropped, according to anonymous sources cited by the outlet.
The report says that the agency will begin overhauling its cryptocurrency policies immediately next week following the departure of SEC Chairman Gary Gensler.
The agency's Republican majority, which will consist of Commissioners Mark Oeda and Hester Pierce, will begin working on clear rules that will help make it easier to determine whether a particular symbol represents a security.
The price of XRP, Ripple's controversial token, has risen to a multi-year high of $2.97, according to CoinGecko data.
Bitcoin price is now close to $100,000 after the latest news report.
Last month, Paul Atkins, of Patomac Global Partners, was selected last December to replace Gensler. This choice has been widely praised in the cryptocurrency space, with major industry players anticipating a radical shift in cryptocurrency policy.
Gensler's latest move against Ripple
Meanwhile, the agency is on track to file its opening brief in its appeal against Ripple.
As U.Today reported, the SEC declined to delay filing the opening brief.
It is not clear whether the SEC will halt the appeal process in the Ripple case.
Earlier, Ripple's chief lawyer, Stuart Alderotti, urged the incoming SEC chief to put an end to all non-fraudulent cryptocurrency cases.
Source link