More than 70,000 in Ripple lawsuit XRP John Deaton, attorney representing the investor, outlines two possible scenarios that will determine whether the case will result in a settlement or a summary judgment. laid.
The lawsuit filed by the SEC against San Francisco-based cross-border payments firm Ripple in December 2020 is expected to close by March 2023. But many crypto experts envision a possible solution.
Koinfinans.com As we reported earlier, Attorney John Deaton highlighted the possibility of a settlement and what must happen before a settlement can be considered in an XRP case. The famous lawyer mentioned two factors that could lead to reconciliation in the case. According to Deaton, resolution of the case first depends on the SEC’s publication of William Hinman’s speech drafts, edits, emails, and comments.
In addition to handing over emails and drafts, he said another event that could ease the deal was the SEC’s ruling against him in the LBRY case. One or both of these events occurring could facilitate a settlement in the widely publicized Ripple case.
The LBRY Case
In 2021, the SEC filed a complaint against LBRY Inc., alleging that the company offered unregistered securities when it sold “LBRY Loans” to large numbers of investors. The LBRY case may be adjudicated before the SEC sues Ripple Labs; therefore, the court’s findings in the LBRY case can be cited in the Ripple case.
The Hinman Documents and the XRP Case
At the heart of the Ripple lawsuit is a speech from 2018 by former SEC official William Hinman stating that ETH is not a security. Ripple officials also think that documents that the SEC wants to keep confidential will undermine the SEC’s position. These documents could reveal the disagreement among their top officials at the SEC over whether to label XRP as a security.
According to the decisions to be made, the few months until 2022 may be the key point in the case. Attorney Jeremy Hogan estimates the most likely settlement timeframe is from now until the end of November.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.