Ripple’s Chief Legal Officer believes that the US Securities and Exchange Commission (SEC) is losing the enforcement battle. This comes as the SEC faces setbacks, including the rejection of Grayscale’s application for a Spot Bitcoin ETF. Other crypto firms, such as Ripple and Coinbase, have also chosen to contest the SEC’s enforcement actions. As a result, Bitcoin briefly rallied but has since retracted in value.

AI Sentiment: Negative