Ripple v. SEC Lawsuit Update July 22nd
TL;DR
- Speculation about a Ripple-SEC settlement has risen due to an agency-closed meeting on July 25.
- Ripple CEO Brad Garlinghouse and lawyers suggest a settlement could happen soon, with the regulator lowering its fine demand, indicating potential progress.
A Possible Settlement or Just Rumors?
The legal spat between Ripple and the US Securities and Exchange Commission (SEC) continues, with numerous industry participants trying to guess its eventual outcome.
One factor indicating that a resolution might be forthcoming is the regulator’s closed meeting scheduled for July 25. Some of the matters to be discussed during the gathering are “Institution and settlement of administrative proceedings” and “Resolution of litigation claims.“
Some X users speculated that the lawsuit against Ripple will also be brough up as a subject. Others, though, reminded that the SEC conducts such meetings quite regularly and so far it has not discussed a settlement with the company.
An official end of the legal battle could involve certain financial aspects. The Commission initially sought a whopping $2 billion fine on Ripple, while the company insisted on a sum no larger than $10 million. Not long ago, the SEC softened its tone, lowering its demand to $102.6 million.
An Agreement Before the Summer’s End?
Some individuals expecting a near-term resolution on the Ripple v SEC front are the American lawyers Fred Rispoli and Jeremy Hogan. The former thinks the entities may shake hands as early as this month, while the latter claims this could happen before the end of the summer.
Last week, Ripple’s CEO Brad Garlinghouse also touched upon the matter, saying the process may be concluded “very soon.” He refused to clarify whether the parties are in settlement talks as of the moment, saying there is “one final piece” before the case gets wrapped up:
“The ruling has been clear from the judge. There is one final piece about these investment contracts sold to institutions. We expect a resolution very soon, but we can’t predict exactly when the judge will rule there.”
Those willing to learn more about the lawsuit and how its outcome could impact the price of XRP, feel free to take a look at our dedicated video below:
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