Ripple pins hopes on Biden administration as co-founder sells 28.6M XRP.

[Malam90]

After ending 2020 facing a lawsuit from the U.S. Securities and Exchange Commission under Donald Trump’s administration, Ripple’s leadership is looking to the new year and a new U.S. President to bring a change in regulations more favorable to the firm.

According to a post on the Ripple website featuring comments from key executives, the firm is predicting the incoming Biden administration will most likely “bring a renewed focus on regulation and enforcement” in the crypto space.

“As we’ve seen, a lack of a clear regulatory framework over the last four years in the U.S. especially has left fintech and blockchain players in a state of limbo,” the post said. “Other countries like the UK, Switzerland, Singapore and Japan are miles ahead.”

Both Ripple CEO Brad Garlinghouse and co-founder Chris Larsen have been vocal about their criticism of the SEC’s policy of “regulation through enforcement” prior to the lawsuit. Cointelegraph news

[Fenix]

There is already information that the Biden administration is changing the current leaders of the SEC and appointing people who are more supportive of cryptocurrency in their place. Of course, this is very good information for cryptocurrency market participants.
However, I do not think that the lawsuit already filed on December 22 will end with the victory of Ripple. Ripple is most likely to lose this process, which is already set for February 22, and it will have to pay huge penalties.