Has The SEC Given Up on the Ripple Case? U.S. Attorney Analyzes
SEC Silent in Ripple Lawsuit, Rispoli Points Out Possible Settlement; Court Rules on XRP Securities, Case May End by Summer.
U.S. Attorney Fred Rispoli commented on the SEC’s silence in their lawsuit against Ripple Labs on social media. He noted that the SEC has until February 12 for discovery but hasn't filed any motions yet.
Rispoli suspects that the SEC will file a motion soon or it could mean that Ripple and the SEC are considering a settlement. He cited that there could be two possible outcomes from the lawsuit.
First, the SEC could get the information it wants and then settle with Ripple. If this doesn't happen, the process could drag out until April 29.
Rispoli believes the SEC might lose most of its demands in the lawsuit. However, the SEC has already scored a partial victory, with a court ruling that institutional sales of XRP are securities.
The lawsuit which started three years ago, is expected to end this summer. A July 2023 ruling stated that only institutional XRP sales are securities.
XRP attorney John Deaton thinks Ripple's final damages might not be significant, based on various factors, including sales location and financial losses.
