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Ripple vs. SEC: By then, the case could be closed

 


The crypto lawyer, John Deaton, denies all rumors about an upcoming agreement between Ripple and the US Securities and Exchange Commission (SEC) with a tweet . He doesn't see an agreement within the next 30 days, although the case appears to be moving forward given the current favorable developments.


“I don't read anything about whether the case is listed on the website or not. As I said @ThinkingCrypto1 today, I don't see an agreement within the next 30 days."


According to a recent tweet by Fox journalist Eleanor Terrett, SEC officials don't appear to have faith in winning the case. A source close to the SEC told the journalist that Commissioner Hester Peirce had expressed private concerns that the SEC might not get the desired outcome.


“SCOOP: It turns out even the staff at @SECGov aren't confident they'll win the case against @Ripple. A source close to the SEC tells me that @HesterPeirce has expressed privately that she believes the SEC will not achieve the desired outcome."


Ripple CEO Brad Garlinghouse recently stated that Ripple is awaiting some decision from the court. This has yet to decide on the SEC's upcoming move to remove Ripple's fair-notice defense. Judge Sarah Netburn's ruling on the SEC's review request is also awaited. For Deaton, this is the biggest decision in the case.


Judge Analisa Torres is also yet to rule on each defendant's motion to dismiss the lawsuit. The defendants include Brad Garlinghouse and Ripple co-founder Chris Larsen. According to Deaton, if the applications are rejected, Ripple can conduct further investigations.


Jeremy Hogan, a lawyer, predicted when the case between Ripple and the SEC could be closed in a recent tweet. According to him, Ripple expects the lawsuit to end between August 26 and November 18. He added that the matter could be settled at any time, implying that no agreement had been reached.


In early March, the attorney released a document detailing some rules that the SEC and Ripple could follow. This includes face-to-face meetings or a video conference to reach an agreement within 14 days.


Hogan also stated that he expects the settlement talks to take place in April or May. The most recent settlement meeting, which took place a few months ago, was unsuccessful, he said. He also forecasts a summary judgment hearing in September.

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