Ripple could expect settlement on XRP lawsuit in April

Rick Steves

Potentially in favor of Ripple is the fact that Judge Sarah Netburn, who has seen all the documents in camera, will be hosting the mediation. 

The SEC v. Ripple lawsuit has been widely followed for its precedent-setting nature. The SEC wants to make an example out of Ripple, while Ripple says it wants to not only defend its interest but also fight in the name of the crypto ecosystem.

Most XRP holders, however, just want the lawsuit to be over in order to see XRP relisted on the US digital asset exchanges, such as Coinbase.

Settlement is the fastest way to see an end to the case that is dragging since 22 December 2020, when the Securities and Exchange Commission filed a complaint against Ripple Labs and individual defendants, Chris Garlinghouse and Chris Larsen, for an unregistered securities offering.

Constant delays in the lawsuit have frustrated XRP holders along the way, but chances that a deal is happening sooner rather than later are getting stronger by the day.

Judge Sarah Netburn will be hosting mediation

The court’s “biggest decision in the lawsuit“, according to XRP Holders’ attorney John Deaton, is round the corner. The DPP ruling, which the SEC is currently fighting by asking for a reconsideration, is expected to be confirmed and the notes and emails concerning Hinman’s 2018 speech should be handed over to Ripple.

The amount of evidence could be enough to corner the plaintiff and to provide leverage for an upcoming settlement between both parties.

Attorney Jeremy Hogan, Partner at the Hogan & Hogan law firm, has recently shared a document indicating a few rules that the SEC and Ripple will follow, including a settlement talk 14 days after the close of fact discovery.

The last settlement discussion, which happened a couple of months ago, wasn’t fruitful. The next most likely settlement time would be at mediation, said Hogan.

Potentially in favor of Ripple is the fact that Judge Sarah Netburn, who has seen all the documents in camera, will be hosting the mediation.

“She knows exactly what is in the emails, etc. and, if I am correct in that the SEC is the problem child here, that could make a big difference. A good mediator can really work miracles sometimes.”

The XRP community-friendly attorney added that his best guess is that settlement may come in April or May.

Read this next

Digital Assets

CFTC Charges Binance and Its Founder, CZ, with Willful Evasion of Federal Law

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against Changpeng Zhao and three entities that operate the Binance platform with numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations.

Institutional FX

Macau announces MCEX exchange for institutional exposure to China’s micro and small businesses

One issue that can’t be overlooked, however, is how transparent can these cash flows be, given the reality of parallel economies in micro and small businesses. 

Digital Assets

Sphynx Ink and OpenSea Partner for “Winkles & Flam” Digital Collectibles

Sphynx Ink Inc. is launching Winkles & Flam, the first cartoon duo in the web3 space, with original hand-drawn art and educational content focused on video game history.

Industry News

Titanium Blockchain CEO sentenced to 4 years in prison for $21m crypto scam

He did not use the invested money as promised but instead commingled the ICO investors’ funds with his personal funds, using at least a portion of the offering proceeds for expenses unrelated to TBIS, such as credit card payments and the payment of bills for his Hawaii condominium.

Industry News

First Citizens acquires Silicon Valley Bank’s deposits and loans

Technically, First Citizens is acquiring Silicon Valley Bridge Bank, National Association, an entity created by the FDIC following the closure of Silicon Valley Bank by the California Department of Financial Protection and Innovation.

Industry News

FXDD named “Most Transparent Broker – Europe” for 2022

Continuing its winning streak, leading brokerage firm FXDD has won the “Most Transparent Broker – Europe” award – granted by the ForexRating.com Awards 2022.

Industry News

The UTIP has launched a reseller program, opening new opportunities to maximize profits

The UTIP Technologies Ltd.  is underway to launch a reseller program. A purpose of the program is to attract new partners, boost a brand awareness and create a unique offer for forex brokers. This allows the reseller to buy and integrate attractively priced UTIP products with their own solutions and expand a range of products for their clients.

Technology

Fxview Sheds Light on Technology Enablement

Traders gain control over their activity and capital with low-latency execution.

Digital Assets

Haru Invest secures EU passport via VASP license in Lithuania

“Haru Invest has been growing stronger than ever, even during the volatile market situation, so we are very keen on crypto regulations. Obtaining a VASP registration is one of many milestones for our company, and it will help build trust in the crypto industry for our members by providing secure and compliant digital asset management services.”

<