The SEC sued Ripple in December 2020, alleging that the company was selling XRP as an unregistered security. Controversy over when the lawsuit will end is causing the blockchain company to miss out on business opportunities. The company claims that the factual and legal issues between this lawsuit and the SEC’s actions overlap, and therefore argues that the lawsuit should be terminated as soon as possible. There has been a new development as the Ripple lawsuit continues and XRP holders wait for the digital asset to be relisted. For details, continue reading Kriptokoin.com.
Is the Ripple lawsuit nearing the end?
As the litigation between Ripple (XRP) and the Securities and Exchange Commission (SEC) swept the headlines as it progresses, more information comes to the fore. A recent document shared in a tweet by attorney Jeremy Hogan shows that the blockchain payments company expects the case to be settled between August 26 and November 18, 2022.
When will the Ripple lawsuit end? I think Ripple will end between August 26 and November 18. In the pending class action, Ripple agreed to withdraw the lawsuit to November 18, believing that the SEC lawsuit would be finished before then. Of course it can always be taken care of.
According to the document, Ripple has agreed that the pending class action lawsuit will be settled on August 26, 2022. Requesting a rescheduling from date to November 18, 2022, he clarified:
Due to the overlap of factual and legal issues between this case and SEC action, the parties agree that there are efficiencies in taking certain aspects of SEC action before certain deadlines in this action.
Informing about the status of the case, Brad Garlinghouse says that some court decisions may be made in the near future:
Monday expert statements etc. It was his last day. The case continues to progress. We expect some decisions from the court sooner or later as it concerns several decisions before the court. The Ripple case is slow moving. I think Gary Gensler continued his narrative that crypto is the wild west. It’s not the wild west. Are there bad players? Yes, there are bad actors in every episode.
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