SEC vs Ripple Lawsuit to End in Settlement?
By:C, FionaThe SEC vs Ripple Lawsuit will begin its critical summary judgment proceeding soon to see where the case stands. Meanwhile, John Deaton, Amicus Curiae in the lawsuit has raised the possibility of the Watchdog reaching a settlement agreement with the defendants.
SEC vs Ripple lawsuit ends in settlement?
Deaton mentioned in a Twitter Thread that he has maintained that the settlement in the Ripple Lawsuit depends on the SEC. It added that it also depends on the revelation of the Hinman speech drafts, emails, and other related documents.
He further added that rather than taking this route SEC is waiting for other events. If the commission receives a different decision than expected in the LBRY case then it can think about striking a settlement.
However, Deaton believes that there will be no settlement unless one or both of the mentioned event happens. He highlighted that he is an amicus in the Ripple lawsuit thus Deaton is in no better position to speculate on the matter.
Meanwhile, both parties have filed a joint proposal for the nearing Summary Judgement. SEC and Ripple are seeking the court’s approval over the sealing motion regarding pending adjudication yet to be filed.
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A comparison between XRP and ETH
It is expected that the Summary judgment in the Ripple lawsuit might see a comparison between the XRP and ETH. However, the revelation of the Hinman speech document remains the key to the case.
However, SEC Chair Gary Gensler is reluctant to settle because of the political risks. XRP lawyer added that the commission will not do so unless it outweighs the political interest. At the same time, he still believes Gensler doesn’t have much to lose if the Ripple lawsuit isn’t settled.
Deaton suggested that it would give Gensler a validation if, in any case, the SEC wins summary judgment. This would lead the commission to certify that they can regulate the cryptocurrency.
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