In the persistent dispute between Ripple, a company specializing in cross-border payments using cryptocurrency, and the US Securities and Exchange Commission (SEC), there are signs that a settlement might be imminent, according to a knowledgeable source in the crypto field. The expert points to recent developments in the case as evidence of potential progress toward a resolution between Ripple and the SEC.
Ripple And SEC On The Brink Of Settlement?
Ashley Prosper, a prominent member and knowledgeable figure in the XRP community, has hypothesized that the ongoing legal dispute between Ripple and the US Securities and Exchange Commission (SEC) might be nearing its end based on recent developments. In a post shared on April 12 via platform X (previously known as Twitter), Prosper detailed several signs indicating the potential for a legal resolution.
In simpler terms, Prosper argues that the Second Circuit not allowing the SEC to collect disgorgement in cases without proven financial harm to investors, combined with the SEC’s inability to identify affected investors in the Ripple case, strengthens Ripple’s argument for defense.
The cryptocurrency specialist pointed out that the SEC’s recent probes into Ethereum and UniSwap could signal the approaching end of their legal case. By focusing on these ventures, the SEC may intend to label Ethereum as a security, which would ripple effects throughout the crypto sector and potentially influence their ongoing battle with Ripple.
Additionally, Prosper believes that Ripple’s latest news about launching a stablecoin and entering the market might be a sign that a resolution was near. Such an action may indicate that Ripple was progressing with its business strategies, which could stem from a sense of confidence derived potentially from the upcoming settlement.
More Factors That Hint A Potential Resolution In Sight
In her blog post, Prosper revealed additional aspects indicating a potential upcoming resolution and the likely end of the SEC-Ripple legal dispute.
A crypto specialist revealed that a conference for settling disputes was scheduled for April 16th, preceding Ripple’s opportunity to answer the SEC’s proposals and requirements. This schedule could imply a willingness from both sides to negotiate and potentially find common ground.
Another way to phrase this could be: On Friday, April 12, she drew attention to the fact that 500 million XRP had been freed from escrow more recently. As reported by Prosper, it’s possible that this escrow unlock was intended for use in a potential settlement.
After she made that comment, Prosper explained later on that there was no arranged payment or transfer of the mentioned amount of XRP on the given date. Additionally, he confirmed that the 500 million XRP kept in the escrow had not been distributed for the purpose of completing a transaction.
The idea of a Ripple-SEC settlement being imminent is only a guess at this point, as neither party has publicly confirmed or reported such an outcome in the ongoing litigation.
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2024-04-15 20:11