Two more attorneys have withdrawn from representing the US Securities and Exchange Commission (SEC) in its lawsuit against Ripple over XRP offerings. The crypto community speculates that the lawyers are leaving as they anticipate the regulator losing the lawsuit. However, there is no concrete evidence to support this claim. The change in legal representation may be due to reassignments or lawyers leaving the SEC. The lawsuit claims that Ripple’s sale of XRP violates federal securities laws, while Ripple denies the allegations and argues that XRP is a decentralized cryptocurrency. The outcome of this lawsuit is significant for Ripple and could impact how other cryptocurrencies are regulated in the US. A settlement with the SEC might be the best option for Ripple to pursue considering the potential costs and risks of a protracted legal battle.
AI Sentiment: Neutral