TL;DR
- Ripple’s Chief Legal Officer touched upon the recent rumors of a settlement between the company and the US SEC, outlining key court dates set for April and May.
The trial between the entities is set to begin on April 23 and could significantly influence the future price of XRP and the broader cryptocurrency market.
Are the Enemies About to Shake Hands?
A recent development in the ongoing dispute between Ripple and the US Securities and Exchange Commission (SEC) suggests that they may be close to reaching a resolution.
In their latest article, CryptoPotty noted that prior to Judge Netburn on April 16, there was a final conference between the prosecution and defense. This is a routine court proceeding where both sides meet to deliberate over whether it would be more beneficial to take the case to trial or settle it through mutual agreement instead.
Stuart Alderoty, Ripple’s Chief Legal Officer, dismissed rumors of a pending settlement and provided important dates regarding the ongoing dispute. He explained that Ripple would submit its response to the SEC’s penalty request by April 22, while the SEC’s reply is expected by May 6.
“A final pretrial conference won’t be held since the Securities and Exchange Commission dropped the accusations against Brad Garlinghouse and Chris Larsen,” Alderoty stated.
Waiting for the Trial
The last chapter of Ripple’s prolonged legal battle with the US securities regulator is set for trial next week, on April 23. Some hold the view that Ripple will begin this trial with an advantage, having obtained three significant (though incomplete) court victories throughout the year 2023.
If good news breaks for Ripple, it could ignite a surge in XRP prices. Conversely, unfavorable news could slow down the crypto industry’s growth and potentially result in tighter regulations.
For those interested in delving deeper into the legal dispute and its potential influence on the asset’s value, please check out our most recent video, specifically created for this purpose.
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2024-04-17 12:22