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Ripple vs SEC Lawsuit Not Fully Settled Yet, Say Legal Experts
In a shocking turn of events, Ripple has dropped its cross-appeal against the US Securities and Exchange Commission (SEC), sparking a flurry of reactions from the crypto community. However, legal experts have warned that this move is not the end of the road just yet.
According to insiders, SEC commissioners still need to formally vote on dropping their appeal, which is expected in the coming weeks. This crucial step marks the final nail in the coffin for Ripple vs SEC litigation.
While it’s unclear what sparked Ripple’s sudden about-face, many believe that the timing is too perfect. Coincidentally, this announcement came just one day after Judge Torres issued a final judgment in the case.
In a tweet, attorney Fred Rispoli weighed in on Ripple’s surprise move, stating that “Ripple & SEC had already discussed terms behind closed doors” before this decision. This revelation raises more questions than answers about the true nature of these talks and any potential deals made between the parties involved.
It is worth noting that while the case may be effectively over for Ripple, one crucial aspect remains: the injunction against Ripple. The ongoing ban on distributing XRP through other companies still stands, leaving investors wondering what this means for their investment choices moving forward.
The 2023 ruling, which confirmed that XRP sales on exchanges are not securities, still holds water, offering a glimmer of hope to retail traders.
Source: coinpedia.org
