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Is the Ripple v. SEC Lawsuit Over? This Former White House Official Thinks so
The legal battle between the US Securities and Exchange Commission (SEC) and certain digital asset entities has been ongoing for quite some time now, with significant developments unfolding since Donald Trump became America’s 47th President. One of these notable incidents is the case involving Ripple, which has been a hot topic in the cryptocurrency space.
In a recent interview, former White House official Anthony Scaramucci claimed that the legal tussle between the SEC and Ripple is also over. The host of the conversation, Scott Melker (also known as The Wolf of All Streets), agreed with this assumption. However, it’s essential to note that there is no official information suggesting that the lawsuit has finally reached its conclusion.
The legal tussle between Ripple and the SEC started in December 2020 and has been characterized by many as a crucial matter within the crypto space. Despite Scaramucci’s claim, it continues to be an ongoing issue.
Jeremy Hogan, a well-known legal expert, recently predicted that the battle would most likely find its resolution through settlement rather than dismissal. He drew parallels with the SEC’s earlier lawsuits against Coinbase and others, stating that Ripple and the SEC “live together” whereas Coinbase is like someone who only had a couple of dates with the agency.
Another lawyer named James Murphy also shared his thoughts on the matter, indicating that Ripple might be attempting to persuade the SEC to agree to vacate some or all of Judge Torres’ decisions. According to him, this move could potentially result in a better deal for the company, particularly considering the initial request by the SEC was a $2 billion penalty. On the other hand, Murphy emphasized that the findings suggesting Ripple has breached certain laws would not be positive for its reputation if it chooses to pursue an exempt securities offering or IPO.
It’s essential to keep in mind that there is no concrete evidence supporting Scaramucci’s claim that the lawsuit is over. As such, it remains unclear what the ultimate outcome will be, with several possibilities existing at this stage.
To summarize, while some may have been led to believe by Scaramucci’s statement that the Ripple v. SEC lawsuit has been resolved, there appears to be no concrete evidence supporting this claim.
