Are Ripple and SEC Settling? Here’s What You Need to Know 🚀
Speculation about a Ripple-SEC settlement is on the rise following a closed meeting that took place on July 25. Ripple CEO Brad Garlinghouse and legal experts suggest that a settlement could be on the horizon, with the SEC potentially lowering its fine demands, indicating progress in the legal battle.
Potential Resolution or Mere Speculations?
The ongoing legal dispute between Ripple and the US Securities and Exchange Commission (SEC) has sparked discussions and predictions within the crypto community.
- Signs pointing towards a possible resolution include a closed meeting scheduled by the regulator on July 25. The meeting agenda includes topics like “Institution and settlement of administrative proceedings” and “Resolution of litigation claims.”
- Some users on X speculated that the lawsuit against Ripple would be discussed during the meeting, while others noted that the SEC conducts such meetings regularly without reaching a settlement.
The financial aspect of a potential settlement involves the SEC’s initial demand of a $2 billion fine on Ripple, which the company vehemently opposed, suggesting a maximum of $10 million. The SEC has recently revised its demand to $102.6 million.
A Settlement Before the End of Summer?
- Legal experts, including American lawyers Fred Rispoli and Jeremy Hogan, anticipate a resolution between Ripple and SEC in the near future. A potential settlement could happen as early as this month or before the summer ends.
- Ripple’s CEO, Brad Garlinghouse, also hinted at a speedy resolution, mentioning that the process could conclude “very soon.” He refrained from confirming ongoing settlement talks but emphasized that there is a final aspect to address before the case is closed:
“The ruling from the judge is clear. There is one final piece concerning the investment contracts sold to institutions. We anticipate a resolution very soon, but the timing is uncertain until the judge rules on it.”
For those interested in diving deeper into the lawsuit’s implications on XRP and its price, check out our dedicated video below:
Hot Take 🔥
Stay tuned for the latest updates on the potential Ripple-SEC settlement as the crypto community eagerly anticipates a resolution that could impact the crypto landscape.
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