The Possibility of SEC and Ripple Settlement: What Influencers Are Saying
Social media Crypto influencer Amonyx recently sparked a buzz on X (formerly known as Twitter) by sharing a rumor about a potential settlement between the U.S. Securities and Exchange Commission (SEC) and Ripple. Amonyx's post hinted that both parties might be ready to put an end to their prolonged Legal battle, which has been ongoing for nearly four years.
?Reliable Source Rumor: SEC and Hash&ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#XRP could settle at any moment because both sides are very tired. ⚖️?
Are you bullish or No ?#CryptoNews #Bullrun pic.twitter.com/dZ8L7sI20t
— Amonyx (@amonbuy) October 9, 2024
While the SEC's recent appeal and filings have added complexity to the legal landscape, rumors of a potential settlement continue to circulate. Ripple's XRP Price has seen fluctuations in response to these developments, with traders eagerly awaiting a resolution in favor of XRP.
The Legal Dynamics Between SEC and Ripple
Following the SEC's appeal against Judge Torres's ruling, Ripple's Chief Legal Officer Stuart Alderoty hinted at the possibility of a cross-appeal from Ripple's side. Ripple has a limited window of 14 days from October 3, the date of the SEC's appeal, to file a cross-appeal. The decision to file a cross-appeal hinges on the SEC's submission of Form C.
Form C is crucial as it specifies the aspect of Judge Torres's ruling that the SEC intends to challenge. Once the SEC submits Form C, Ripple will have clarity on the grounds of the appeal and can file a corresponding cross-appeal. The SEC is expected to file Form C by October 17, failing which Ripple could pursue a motion to dismiss the SEC's appeal.
Evaluating the Likelihood of Settlement
Despite rumors of a potential settlement, legal experts and Ripple's top executives have expressed differing views. Former SEC attorney Marc Fagel believes that a settlement is improbable, citing the SEC's focus on setting regulatory precedents rather than seeking monetary penalties. Ripple's CEO Brad Garlinghouse and CLO Stuart Alderoty have echoed their commitment to navigating the legal nuances to clarify regulatory guidelines.
With the outcome of this legal saga uncertain, the possibility of a settlement remains speculative. Will SEC and Ripple choose to resolve their differences in court or opt for a settlement? The decision will not only impact the regulatory landscape for Digital assets but also influence the future price trajectory of XRP and other cryptocurrencies.
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