XRP Faces Pressure as Elon Musk’s DOGE Challenges SEC: Ripple’s Next Move

• The Department of Government Efficiency (DOGE) launched an X account, @DOGE_SEC, aiming to expose SEC misconduct, waste, and corruption.
• Findings from DOGE’s review may increase scrutiny on the SEC’s past decisions and impact it’s future regulations.

Ripple’s XRP dropped by 4% during the Asian session on Tuesday after news broke that the Department of Government Efficiency (DOGE) plans to review the Securities and Exchange Commission (SEC). 

This development raised concerns among investors, leading to increased market uncertainty. Many are unsure about how this review could impact regulatory policies and the crypto industry at large.

The Mark of A New Beginning by the DOGE 

A recently created X account, @DOGE_SEC, is putting in efforts to expose misconduct, misuse of funds, and corruption within the regulatory agency. In the X post, the account encouraged followers to send a message on any issues related to finding waste, fraud and abuse relating to the Securities and Exchange Commission.

This initiative aims to bring transparency and accountability, drawing attention from the crypto community and beyond.

Expectations Amid the Investigation of SEC 

DOGE’s aim to investigate potential waste, fraud, and misconduct has caused significant market fluctuations over the past 24 hours, sparking discussions across various digital asset circles. 

If Department of Government Efficiency uncovers waste or misconduct in crypto-related cases, including Ripple vs. SEC, it would strengthen its beliefs that the agency targeted digital asset firms under former Chair Gary Gensler. This could weaken SEC position in their opposition against Ripple could add pressure on regulators and fuel debates about past decisions.

Stuart Alderoty, Ripple’s Chief Legal Officer has suggested that new information will soon come out in the case against the company.“I have the receipts”, He hinted while revealing important documents that could expose the SEC’s actions. 

Investors and analysts are closely watching for any developments that might influence regulations or impact the broader financial landscape.

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