XRP Lawsuit Settlement Incoming? Lawyer Drops Scenario

There is a lot of anticipation surrounding the upcoming Summary Judgment in the SEC Vs Ripple Lawsuit, which has been ongoing for a long time. One area of speculation pertains to the resolution of the XRP lawsuit.

Ripple To Settle XRP Lawsuit

John Deaton, an Amicus Curiae in the XRP lawsuit, provided insights on the potential settlement of the case. He suggested that if the US SEC acknowledges in writing that the ongoing and future sales of Ripple's XRP are not securities and that secondary market sales by individuals, including exchanges, will not be treated as securities, the lawyers would advise their clients to settle.

The Ripple defendants could have chosen to settle earlier, but they decided to bring the case to court. However, XRP holders' lawyer, John Deaton, believes that Ripple will not settle because they are fighting for clear crypto regulations.

Deaton also advised that Ripple CEO Brad Garlinghouse and the Ripple Board, who act as fiduciaries to shareholders, should settle in the given scenario. If Ripple fails to settle and loses the case, the company could be in litigation for a decade.

US SEC To Settle？

A settlement cannot be appealed in court and can prevent a ruling from becoming precedent if the parties agree to settle before a decision is made. Parties can choose to settle either before or after a decision, and the timing of the settlement won't matter to the judge if it happens before the ruling.

Ripple's Chief Legal Officer, Stuart Alderoty, has previously stated that the US SEC has lost four out of its five cases in the Supreme Court. This indicates that the defendants in the XRP lawsuit are confident about winning the case, even though they believe the commission will continue to prolong the legal battle.

Looking for more information about cryptocurrencies？ WikiBIT offers you a one-stop service! Not only can you access numerous hot news topics, but you can also search for relevant trading firms and obtain their information, such as their ratings, user reviews, and whether they are regulated. Additionally, you can also use WikiBIT to keep up with the latest market trends of various digital currencies.

Don't hesitate any longer - download WikiBIT now and experience its features for yourself!

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!