Ripple and the US Securities and Exchange Commission (SEC) are reportedly approaching a resolution of their four-year legal battle for the issue of XRP, the SEC claimed to be an unregistered safety. The dispute, which started under the BIDEN administration, has asked questions about the future of the cryptocurrency.
According to FOX News, the delay in reaching a final agreement is due to the negotiation of Ripple on more favorable conditions with regard to a decision by the court that imposed a fine of $ 125 million on the company. The ruling also included a permanent order that makes Ripple XRP -Tokens sell to institutional investors.
Legal expert Jeremy Hogan suggested that a private scheme with the SEC could terminate the lawsuit without the need for a lawsuit. Hogan stated that if an arrangement is reached, the case could be packed within a few days, so that the much needed clarity for Ripple and the wider market can be obtained. This would enable Ripple to move forward, giving settings the green light to get in touch with XRP and to herald a new era for the cryptocurrency.
Hogan had previously said: “The only way in which the case could be” over “is as Ripple and the SEC reach a private settlement agreement (which would differ from the judgment), reject the appeal and then never return the conditions of the settlement agreement to the court to be ratified. to force. “
Former SEC lawyer Marc Fagel, however, pointed out that there is no such thing as a ‘private’ scheme with the SEC. All SECs are public and must be assessed by a court. Fagel added that although it may seem like a routine process, it is required by law for transparency and supervision.
