Ripple The latest developments between the US Securities and Exchange Commission (SEC) and the US Securities and Exchange Commission (SEC) have added a new one to the turbulent developments such as the Uniswap case and Ripple’s stablecoin plans. A court document dated March 29 showed that a settlement conference took place between the parties, sparking speculation about the SEC’s lawsuit against Ripple Labs.
Prior to the settlement conference, the SEC alleged that Ripple had violated Section 5 of the Securities Act of 1933 and was unregistered. XRP He demanded a penalty of approximately $2 billion for running the bids. Company executives, on the other hand, condemned the SEC and accused the regulator of doxxing.
Settlement discussions between Ripple and the SEC, when looking at the SDNY Court’s case calendar for the week of April 15, observed that a “Final Pretrial Conference” was held on April 16, but the details of the courtroom have not yet been determined. SEC, CEO Brad Garlinghouse and when the board president dropped charges against Chris Larsen, his pretrial matters were dismissed.
Some XRP investors still believe a deal is possible after Ripple delayed unlocking XRP from escrow and expert Ashley Prosper noted that a settlement in the case was likely coming.
However, a crucial week is ahead as the company’s lawyers must file an opposition brief by April 22 and prepare a corrected version by April 24. Additionally, the SEC is scheduled to submit a response summary by May 6. Parties and third parties will then discuss other potential issues, and applications are expected to be submitted by May 20.
As Koinfinans.com reported, the impact of Coinbase’s provisional appeal cannot be ignored. Coinbase and Ripple clarified from the US Court of Appeals for the Second Circuit that cryptocurrencies are not securities. Coinbase also filed a temporary appeal in the SEC case seeking to answer a question regarding the definition of “investment contract.”
