No SEC vs. Ripple Lawsuit Settlement in Sight

NAIROBI (CoinChapter.com) — The SEC vs. Ripple lawsuit remains unresolved as the Securities and Exchange Commission (SEC) rescheduled its closed meeting for July 25. The XRP community had high hopes for a settlement, but former SEC securities lawyer Marc Fagel dismissed these expectations, emphasizing the lack of concrete evidence for such an outcome.

SEC vs. Ripple Lawsuit Closed Meeting Sparks Speculation

The SEC’s rescheduled closed meeting has fueled speculation about a possible settlement in the ongoing SEC vs. Ripple lawsuit. The legal battle between Ripple Labs and the SEC has impacted the cryptocurrency industry. The XRP community eagerly anticipates a resolution to the legal battle that began in 2020.

Marc Fagel, however, has tempered these hopes. He emphasized that settlements are rarely considered during closed meetings and noted that if the enforcement staff had negotiated a settlement with Ripple, they would have notified the court.

The community was disappointed when the closed meeting was initially canceled. However, the rescheduling rekindled the anticipation of an agreement. Despite this renewed optimism, Fagel reiterated that it is unlikely for such a complex case to reach a settlement at this stage.

Industry Experts Weigh In

In a recent interview with Bloomberg, Ripple CEO Brad Garlinghouse offered a glimmer of hope, suggesting the lawsuit might conclude “very soon.” While Garlinghouse remained tight-lipped on specifics, his optimistic tone sent ripples through the crypto community.

The news comes after a volatile week for XRP, with its price fluctuating wildly on rumors of a potential settlement with the SEC. Ripple Chief Legal Officer Stuart Alderoty echoed this sentiment while celebrating the first anniversary of Judge Analisa Torres’s landmark ruling. Despite these optimistic views, Fagel’s statement has left the community uncertain about the outcome of the SEC’s closed meeting.

Providing insights on the final judgment of the remedies phase, Fagel asserted that the upcoming weeks are crucial. He believes that the lack of concrete evidence supporting a settlement makes it improbable.

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