TL;DR Breakdown
- Ripple could win its lawsuit with the SEC, says former SEC executive, Joseph Hall.
- XRP trading is likely to resume in the US as the case winds down.
Lawsuit against Ripple may end soon
The situation around SEC’s lawsuit against Ripple has gone on for a while now and has greatly affected the payments’ platform. Last year December, the company and two of its officials were accused by the SEC of selling unregistered digital securities worth over “$1.3 billion.”
However, in a recent tweet from Stephen Palley, he mentioned that the SEC lawsuit against Ripple would soon wind down. In addition, Anderson Kill, a blockchain and crypto laywer also tweeted that he expects the lawsuit to end soon after Ripple gave quick answers to SEC’s complaints.
He revealed that in a regular legal dispute, “you don’t get the other side’s document until the case has progressed.” It is assumed that the SEC has acquired every of the documents needed.
SEC could lose its lawsuit against Ripple
The SEC has been after Ripple and XRP for a while, and it Ripple has been able to weather the storm – although not completely; but the latest report has brought a new outlook to the case. Summarily, the SEC’s lawsuit against Ripple might end soon.
The former SEC executive Joseph Hall, believes that there is a likelihood that Ripple wins the case. He also said in an interview on Thinking Crypto that the SEC lawsuit against Ripple is “pretty astonishing.”
Ever since the lawsuit against Ripple was filed in December, XRP has suffered a great drop in its market value as many investors and crypto platforms decided to pull out of XRP trading. While many also predicted that the SEC might win the case, however, recent indicators are revealing that the case could end soon. Once it ends, XRP would be able to resume trading in the US again.
