Ripple vs. SEC: End of Four-Year Legal Battle in Sight
1min read The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) may be nearing its end, according to recent developments and expert analysis. The SEC's recent decision to drop its appeal of the 'Dealer' rule litigation has sparked speculation that the Ripple lawsuit could also be dismissed soon.
Former SEC official John Reed Stark has weighed in on the situation, suggesting that the Ripple appeal is likely to be dismissed, effectively ending a four-year legal dispute. Stark's reasoning is based on the new SEC leadership's commitment to pausing crypto cases until the crypto task force, led by Commissioner Hester Peirce, provides regulatory clarity for the industry.
The SEC has already dismissed several non-fraud crypto cases, including the Binance lawsuit, and recently agreed to drop the coinbase lawsuit with prejudice. This precedent suggests that the Ripple lawsuit could also be dismissed, preventing the SEC from refiling the case in the future.
However, not all legal experts agree on the timeline for the Ripple lawsuit's resolution. While John Reed Stark predicts a swift end to the case, Jeremy Hogan believes a settlement might not occur until April or May. Additionally, Sherrie and The MetaLawMan have pointed out that the Ripple case's complexity, particularly the $125 million penalty against the crypto firm, could make negotiations challenging and time-consuming.
Fred Rispoli, another legal expert, has suggested that the monetary judgment is a significant factor in the lawsuit's ongoing status. He believes that the acting SEC Chair Mark Uyeda and Commissioner Hester Peirce may be hesitant to take responsibility for modifying the penalty against Ripple. Nevertheless, Rispoli is confident that the case will eventually be settled, with both parties reaching an agreement.
