In yet another shuffle in legal teams on either side of the Ripple XRP lawsuit, the U.S. Securities and Exchange Commission (SEC) on Wednesday filed a motion for withdrawal of one of its attorneys in the Ripple lawsuit. This comes a new attorney, Caleb J. Robertson, appeared before the U.S. District Court for the Southern District of New York on behalf of Ripple CEO Brad Garlinghouse on August 22, 2023.
US SEC’s Attorney Withdraws From XRP Lawsuit
In a filing dated August 23, 2022, the federal regulatory agency said that attorney Guerrier is no longer a part of the lawsuit against Ripple Labs. However, other counsels recorded previously continue to represent the agency, it said in the filing.
In this context, it is unknown as of now as to whether the attorney had asked to withdraw over disagreements with the SEC’s position. The agency officials have been at the receiving end of criticism over the stringent enforcement actions it took against crypto businesses since the beginning of 2023. On the other side, the US lawmakers have been expressing concerns on the threat of dedollarization in the international markets.
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XRP Price: What Next?
Following the historic Summary Judgment by Judge Analisa Torres on the sale of XRP token for retail buyers, Ripple has seen a new wave of adoption in the United States. The likes of crypto exchanges Coinbase and Kraken have relisted the token, in light of the July 2023 Judgment, due to which the XRP price took an instant jump. Will it take yet another regulatory development or progress in the lawsuit for the next wave of price rally for the token?
