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SEC vs. Ripple lawsuit could end soon as negotiations drag on
The years-long legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs may finally be coming to a close as ongoing negotiations continue, according to a recent report by FOX Business journalist Eleanor Terrett.
As reported, Ripple’s legal team is seeking changes to an August district court ruling that included a $125 million fine and a permanent injunction preventing the company from selling XRP to institutional investors. The fine and injunction were part of a decision that was met with disappointment by many in the crypto community who felt it was unfair for Ripple to be held accountable while other firms are given a “fresh start.”
Ripple’s legal team is arguing that if the SEC’s new leadership is clearing enforcement actions against previously-targeted crypto firms based on the premise that regulatory clarity will address underlying issues, Ripple should not face penalties. This comes as the SEC appears uncertain about whether violations occurred.
The unique nature of this regulatory scenario has contributed to a longer resolution timeline compared to other crypto-related cases before the SEC.
It remains unclear when the settlement might be finalized, but the delay in reaching an agreement is expected to soon come to a close.
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Source: https://cryptobriefing.com/sec-ripple-case-negotiations/
