Monday, June 27, 2022
Home Crypto News Market SEC Lawsuit Against Ripple Could End in Settlement By April 2022

SEC Lawsuit Against Ripple Could End in Settlement By April 2022

- Advertisement -
Follow-Us-On-Google-News

The much-anticipated end to the lawsuit slammed by the Securities and Exchange Commission (SEC) could be closer than expected. 



According to recent documents shared by attorney Jeremy Hogan, a partner at the Hogan & Hogan law firm, there will be a one-hour settlement talk between the SEC and Ripple, 14-days after the close of fact discovery. 

Should both parties reach an agreement, there is a possibility that the case could end in a settlement in April or May this year, attorney Hogan disclosed.  

So far, Judge Sarah Netburn has seen all relevant case documents in-camera, including emails related to Hinman’s 2018 speech and Estabrook’s notes. 

“She knows exactly what is in the emails, etc. If I am correct that the SEC is the problem child here, that could make a big difference. A good mediator can really work miracles sometimes,” attorney Hogan said.  

The Settlement Could End in Ripple’s Favor

Although the previous settlement held months ago between both parties did not yield positive results, the next one slated to be held 14 days after the close of fact discovery is expected to end in favor of Ripple, given the amount of evidence against the agency. 

“Yes, a one-hour settlement discussion happened a couple of months ago. It didn’t settle, which means that the next most likely settlement time would be at mediation (see arrow below), which will be hosted by the one and only JUDGE NETBURN who has seen ALL the documents in camera,” the XRP community-friendly attorney said

 

With the amount of evidence seen by Judge Netburn, there is a huge possibility that the SEC could be convinced to enter into the mediation program, where the settlement could be discussed.   

Delay Hurting XRP Investors

The cryptocurrency community has widely observed the lawsuit, which started in December 2020. 

The case has resulted in several U.S.-based cryptocurrency exchanges halting support for Ripple (XRP), thus hurting investors in the process, as the coin’s value has dipped significantly ever since. 

While an outcome could have been reached a few months after the suit started, the SEC is accused of using delaying tactics, which have seen the case drag on for months. 

A few days ago, Ripple CEO responded to the SEC’s opposition to the production of the Estabrook’s note, a move he believed was another delay tactic employed by the agency. 

A favorable settlement would see U.S.-based exchanges enable support for XRP leading to widespread adoption of the cryptocurrency and further boosting the coin’s price

- Advertisement -

Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Crypto Winter Survival Guide: Frax (FRAX), PAX Gold (PAXG), And RoboApe (RBA)

How long will crypto winter last? That is the question on the lips of every crypto participant right now. Many newbies are scared at...

The Exciting Evolution Of Blockchain Gaming With Xchange Monster (MXCH) & Decentraland (MANA)

The words decentralized finance and game, these two industries have been combined together and from this combination the GameFi sector was birthed. For many...

TRON Price On The Up As Risk Of USDD Depegging Falters

  Tron Price is showing that the USDD depegging pressure is releasing. window.coinzilla_display = window.coinzilla_display || ; ...

Bitcoin Only Line Of Defense Is Holding But How Far? As Number Of BTC Exchange Inflows Increase

  Bitcoin does not have sufficient support below 20,000 dollars. window.coinzilla_display = window.coinzilla_display || ; ...

Baby Doge Coin Team to Burn 50 Quadrillion BabyDoge At Once

Baby DogeCoin Team to Burn 50 Quadrillion Coins Tomorrow After Community’s Approval.  window.coinzilla_display = window.coinzilla_display || ; ...

SEC Chairman Piles Pressure on Altcoins, Says ‘Bitcoin Is the Only One I Am Willing To Say Commodity’ 

For SEC Chairman Bitcoin is the only crypto that is a commodity. window.coinzilla_display = window.coinzilla_display || ; ...

Shiba Inu Soars Above 40% In Seven Days As Unification Brings Shibarium Launch Closer

SHIB has put smiles on investors' faces after its massive rally in the past seven days.  window.coinzilla_display...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.