It’s a huge volatility time for the crypto market as Ripple CEO Brad Garlinghouse disclosed that the agency would lose some of its cases. The case is between a blockchain company named Ripple and SEC. It’s a legal battle in New York where the SEC says Ripple makes money from others with a batch of XRP it offers.
Since then rumors have been started about the SEC Lawsuit v. Ripple ending the settlement. There will be testing whether the commission has the authority to regulate crypto as securities or not. Therefore, Ripple XRP holders are waiting for the settlement or complete victory.
What to expect about the battle between SEC vs Ripple?
Some sources stated that staff working on the case have been reassigned and an official announcement would be made in the upcoming weeks. As per the statement given by the XRP production, all the staff on the SEC vs Ripple case have been reassigned. A week until the news in public.
Also, some popular cryptocurrency experts commented that they are 100% confirmed about the rumours. XRP holders said the next court decision in the case will be critical and more significant.
Furthermore, the CEO of Ripple said the SEC chairman disclosed that the agency would lose some cases. He added that no one ever once said ‘XRP is a security.
SEC may get convinced into the settlement talks
SEC is fighting for the production of all relevant documents and evidence including ex-SEC William Hinman’s 2018 speech on ether. Additionally, the Judge has been going through Garlinghouse’s discussions and documents the SEC objected to bringing in the court.
But Hinman’s emails could bring SEC to the table. They were the notes from the meetings with Ethereum’s Joseph Lubin. It will be in the favor of the defendants and can put an end to the XRP lawsuit.
Ripple could achieve a complete victory as they followed a careful approach towards the security laws during XRP offerings. The settlement from the SEC could be around the corner with the blockchain company.