Will Ripple and SEC Reach Settlement in 14 Days?
Both parties have significant issues at stake, but whether a settlement can be reached remains uncertain.
The U.S. Securities and Exchange Commission (SEC) has filed an appeal challenging Judge Torres’s ruling from July 2023, which favored Ripple by clarifying that XRP does not classify as a security for programmatic sales.
The appeal is now with the U.S. Court of Appeals, leading to fresh speculation about the possibility of a settlement between Ripple and the SEC during the 14-day appeal window.
An XRP enthusiast shared on social media platform X that the SEC might be pushing for a higher penalty than the original $125 million. However, former SEC lawyer Marc Fagel dismissed this notion, stating that the appeal isn’t about the penalty.
He emphasized that there’s no realistic basis for a settlement, pointing out that the SEC had pursued an interlocutory appeal a year ago regarding programmatic sales, showing their consistency on the issue.
Attorney Bill Morgan provided additional clarity, stating that the SEC has only filed a notice of appeal, not a formal one yet. This leaves room for potential negotiations between the SEC and Ripple. Morgan noted that while settlement is technically possible within the 14-day window, the ideological gap between the two parties makes it unlikely.
There is also speculation that Ripple may file a cross-appeal, possibly challenging the court’s ruling on institutional sales. Both parties have significant issues at stake, but whether a settlement can be reached remains uncertain.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Here’s How Much Bitcoin Trump’s VP Pick JD Vance Owns
Bitcoin ETF Inflows Pause as U.S. Election Uncertainty Rises
Tornado Cash co-founder’s money laundering trial postponed to April 2025
Share link:In this post: On November 1, Judge Katherine Polk Failla rescheduled the next Storm’s trial to April 14, 2025. Storm’s defense has challenged the court’s trial postponement, going as far as filing a mandamus petition with the U.S. Court of Appeals for the Second Circuit. Roman Storm is charged with three counts: conspiracy to commit money laundering, conspiracy to commit sanctions violations, and conspiracy to operate an unlicensed money-transmitting business.
Popular Convenience Store ‘Sheetz’ Starts Accepting Crypto