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Ripple CEO expressed confidence in resolving the prolonged legal battle with the U.S. Securities and Exchange Commission (SEC) soon after a meeting next week.
According to Bloomberg, Brad Garlinghouse, the Ripple CEO, hinted that a settlement might soon be reached, particularly after a closed-door meeting with the SEC next week.
According to Bloomberg, Ripple CEO Brad Garlinghouse expects the company to soon resolve its years-long lawsuit with the U.S. SEC. It is speculated that XRP will announce a settlement after a closed-door meeting with the U.S. SEC next week. https://t.co/lnyfZSIvqL
— Wu Blockchain (@WuBlockchain) July 21, 2024
Although the CEO did not explicitly confirm ongoing settlement talks, his optimistic remarks point towards a conclusion of the litigation that has spanned years.
It is important to note that speculation has intensified around a potential settlement announcement amid the upcoming meeting, initially expected last week but now postponed to next Thursday, July 25. This delay, as noted on the SEC’s website, has heightened anticipation among crypto traders.
The meeting’s agenda includes critical topics such as the institution and settlement of administrative proceedings, resolution of litigation claims, and other examination-related matters. Despite the rescheduling, the market remains hopeful about a positive outcome.
Industry Optimism Post-Judge Torres’ Decision
Notably, a year has passed since Judge Torres’ pivotal summary judgment, which legally clarified that XRP is not a security. This judgment has been influential, inspiring similar rulings in cases like Binance, and challenging the SEC’s stance under Chair Gensler.
For instance, Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized that the court’s decision represents a significant check on the SEC’s overreach. He criticized the continued litigation for individual tokens and urged policymakers to expedite legislative clarity to prevent the U.S. from lagging globally in the crypto sector.
Some reflections as we approach the one year anniversary of Judge Torres’ Summary Judgment decision in the SEC v Ripple lawsuit.
First and foremost – it was a watershed moment to find as a matter of law, a token – in this case, XRP – in and of itself, is not a security.
This… https://t.co/0gh0EYhFZO
— Stuart Alderoty (@s_alderoty) July 12, 2024
Brett Hill, a Bitrue Ambassador, on his hand, has reportedly projected an exciting future for Ripple, anticipating an IPO and an XRP ETF this year or 2025 following a lawsuit victory.
We Can’t Predict When Exactly
Recall in a July 18 report, the Ripple CEO expressed optimism about reaching a final resolution. During the recent Bloomberg interview, he acknowledged the uncertainty in predicting the timing of the highly anticipated final judgment.