This possibility has been discussed ripple and U.S. Securities and Exchange Commission (U.S. Securities and Exchange Commission) settle down in their ongoing legal battle. However, recent comments from Ripple President Monica Lang suggest that the company is unlikely to reach a settlement with the commission as it plans to pursue the case “thoroughly.”
Ripple doesn’t back down
Lang Tell News channel CNBC said her company plans to fight the SEC lawsuit against it to the end. Ripple President explains that Judge Analisa Torres ruling Strengthened the company’s resolve and provided “clarification” by stating that XRP is not a security. She said the ruling also opens the door for the company to expand its business not just in the U.S. but “around the world.”
this U.S. Securities and Exchange Commission Back in December 2020, Ripple sued Ripple, accusing the company and its executives of violating securities laws by selling XRP tokens without registering them as securities.Since then, Ripple has chosen to go head-to-head with the commission in court rather than submit to Settlement with regulators.
The cryptocurrency company scored a major victory in July when Judge Analisa Torres ruled summary judgment Supported the company, stating that XRP is not a security and that the company’s programmatic sales and other offerings do not constitute investment contracts.
So it’s understandable that Long and Ripple are willing to stay the course, as the odds appear to be in their favor following the court’s ruling. Although the SEC intends to appeal this decision, Experts predict the Commission is likely to lose if the court grants the interlocutory appeal.
Ripple may also be hoping to use a potential victory against the SEC to restore investor confidence in the cryptocurrency company.That’s especially because the company’s chief technology officer, David Schwartz, has Previously mentioned how SEC lawsuits cost companies important deals.
XRP price remains volatile as lawsuit continues | Source: XRPUSD on Tradingview.com
will be a long journey
Ripple and the SEC appear hell-bent on the lawsuit being over, suggesting there is no end in sight for the legal battle in the case, which is approaching three years old and could drag on even longer.
Before the SEC filed its interlocutory appeal motion, Judge Analisa Torres A pretrial scheduling order has been issued to schedule a jury trial in this case in the second quarter of 2024. This means that the Ripple case may continue until the end of 2024 and beyond (if appeals follow).
Additionally, the court granted the SEC request for interlocutory appeal This means that even before the jury trial begins, Ripple and the SEC will have to battle it out in court again.
Featured images from Finbold, charts from Tradingview.com
