Pro-XRP legal expert Fred Rispoli commented that things were too quiet. long legal battle Between Securities and Exchange Commission (SEC) and ripple. He also gave his thoughts on why that might be the case and the possible outcomes as the case draws closer to its end.
As the next deadline approaches in the Ripple case, things look calm.
Rispoli said there was no confrontation between the two parties. famous Completion of discovery related to damages is Scheduled for February 12th. Considering the data is coming quickly, legal experts are surprised that the SEC has not yet filed a discovery motion. This is even so. hostile to legal battles he said
But he expects the committee to take action, as he expects the motion to be submitted at least a week or so before the deadline. If that doesn’t happen, the SEC and ripple “You’re playing well.”
Meanwhile, he believes two things could happen at this point. One way is for regulators to reach settlements with cryptocurrency companies after obtaining and reviewing relevant findings. Otherwise, it is expected that the legal battle will drag on through the compensation briefing, which will conclude on April 29th.
In his opinion, a committee is better. Solved with Ripple. Otherwise, Rispoli said, most of the requests will be lost if the case eventually moves to a damages brief. His argument stems from the fact that the commission has suffered consecutive defeats in the courts so far. Therefore, they must take the ‘easy win’, that is, compromise.
XRP struggles amid lawsuit | Source: XRPUSD on Tradingview.com
The SEC will have to compromise
If the SEC decides to settle with Ripple, it will have to agree to a lower amount than it previously requested from Ripple. Pro-XRP legal expert John Deaton had previously published The commission reportedly demanded more than $700 million from the cryptocurrency company for violating securities laws.
The lawyer then noted that Ripple is trying to “drastically reduce” the numbers. Considering that the SEC has already lost, it appears that crypto companies have the upper hand for now. Three Notable Battles To them. Therefore, Ripple will not be in a hurry to give in to the SEC’s demands.
take a hint from LBRY case, the cryptocurrency company will also be confident that the court will award a smaller amount of damages than the SEC is demanding. Therefore, it appears to be in the Commission’s best interest to compromise and reach an agreement with Ripple.
deaton stated What would Ripple’s “99.9% legal win” look like if it were able to pay less than $20 million in a potential settlement?
Featured image from Blockworks, chart from Tradingview.com