Pantera predicts SEC lawsuits will fade after Gensler resigns
Cryptocurrency lawsuits in the United States may soon come to a quiet resolution as Securities and Exchange Commission Chair Gary Gensler steps down in January. According to Pantera’s chief legal officer, Katrina Paglia, the defendants in these cases will likely have to pay something, along with using “neither admit nor deny” language.
During a panel at the North American Blockchain Summit, Paglia shared her insights, suggesting that settlements may be on the horizon. While the SEC could potentially dismiss all claims, Paglia believes it’s more likely that they will reach agreements using the “neither admit nor deny” approach.
Paglia also hinted that the SEC may issue no-action letters, indicating that they will not pursue legal action against certain entities. This move would allow the regulator to make a statement while conserving resources and energy spent on investigations.
With Gensler stepping down, there is speculation that SEC Commissioner Hester Peirce will take over crypto matters in the interim, potentially recommending more no-action letters. This could lead to a pause in the ongoing litigation within the crypto space, offering some relief to companies currently facing regulatory scrutiny.
Overall, the hope is that with these changes, there will be a shift towards more amicable resolutions and a reduction in legal actions against prominent crypto companies in the US.
