Important Ripple vs. SEC Lawsuit Update: Here’s the Next Step
TL;DR
- Ripple’s Chief Legal Officer touched upon the recent rumors of a settlement between the company and the US SEC, outlining key court dates set for April and May.
- The trial between the entities is set to begin on April 23 and could significantly influence the future price of XRP and the broader cryptocurrency market.
Are the Enemies About to Shake Hands?
An important event related to the legal spat between Ripple and the United States Securities and Exchange Commission (SEC) recently hinted that a settlement between the two entities could be just around the corner.
As CryptoPotato reported, both parties had a final pretrial conference before Judge Netburn on April 16. The procedure is a court hearing where a prosecutor and a defense attorney meet to discuss whether a lawsuit should go to trial or be resolved via a mutual agreement.
Stuart Alderoty – Chief Legal Officer of Ripple – rejected the rumors that a settlement is in the cards, outlining the next vital dates in the dispute. He clarified that the company will file its response to the SEC’s request for penalties by April 22, whereas the regulator’s reply should come by May 6.
“There is no final pretrial conference because the SEC dismissed the charges against Brad Garlinghouse and Chris Larsen,” Alderoty concluded.
Waiting for the Trial
The final chapter of the lengthy lawsuit between Ripple and the US securities regulator is a trial scheduled for next week (April 23). Some believe the firm will enter it with the upper hand, having secured three vital (yet partial) court victories throughout 2023.
A positive outcome for Ripple might trigger a bull run for XRP, whereas the opposite scenario could hamper the progress of the crypto industry and lead to the implementation of stringent rules.
Those willing to explore the details of the legal battle and how exactly it may impact the asset’s valuation, feel free to take a look at our latest dedicated video below:
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