Is Ripple Close To Reaching An Agreement With The SEC This Week?
There has been much speculation in the cryptocurrency industry about whether or not Ripple Labs’ ongoing legal struggle with the United States Securities and Exchange Commission (SEC) would soon be resolved.
A negative settlement from Ripple would be a “loss for the whole world & WEB3,” in the opinion of pro-crypto former U.S. congressional candidate January Walker.
Gokhshtein Media founder and blockchain enthusiast David Gokhshtein also chimed in on the matter, tweeting on December 10 that “We need Ripple to win this case and not settle, ” “in which case he predicted the worst.
A settlement may have “catastrophic ramifications for the industry one way or the other,” Hoskinson said during the AMA on December 10.
In the meanwhile, Hogan & Hogan partner and crypto lawyer Jeremy Hogan says various results are possible. Hogan told his 157,000 YouTube viewers on December 10 that there was an approximately 50% probability that Ripple wins and a “110.6% possibility of something happening shortly.“
The attorney speculated that if Ripple prevails, it will be because “it had no legal commitment to purchasers of XRP after the sale occurred, no post sale responsibilities, in other words there can be no investment contract without an investment contract.”
He also affirmed a forecast made by defense attorney and former federal prosecutor James Filan on November 4 and dubbed it a “proclamation from a legal God” that the case will be decided on or before March 31, 2023.
Ripple CEO Brad Garlinghouse told a panel at DC Fintech Week on October 11 that he anticipates the case against the firm to complete within the first half of 2023, but that it is hard to forecast.
He has previously stated that Ripple would consider reaching an agreement with the SEC if XRP is not deemed a security.
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