Pro-XRP legal expert Fred Rispoli has shared his insights on the ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple. He noted the surprising quietness in the case, especially as the deadline for the completion of damages-related discovery, scheduled for February 12, approaches. Despite the previously hostile nature of the legal battle, the SEC has yet to file any discovery motions. Rispoli expects the Commission to take action soon, possibly a week or so before the deadline. If this doesn’t occur, it could indicate a more amicable relationship between the SEC and Ripple.
Rispoli believes there are two potential outcomes at this stage. The regulator could obtain and review relevant discovery materials and then decide to settle with Ripple. Alternatively, the legal battle could continue through the damages briefing, concluding on April 29. Rispoli suggests that the Commission would be better off settling with Ripple, as they risk losing most of their requests if the case reaches the damages briefing. This view is based on the SEC’s recent losing streak in court, leading Rispoli to recommend they take “an easy win” with a settlement.
If the SEC decides to settle, they will likely have to accept a lower sum than the over $700 million they initially demanded from Ripple for violation of securities laws. This information was previously revealed by another Pro-XRP legal expert, John Deaton. Ripple, on the other hand, is seeking to “drastically reduce” this figure. Given the SEC’s recent losses in court, Ripple seems to have the upper hand and is unlikely to rush to meet the SEC’s demands.
Referencing the LBRY case, Ripple is confident that the court will award a lesser figure in damages than what the SEC is demanding. Therefore, it appears to be in the Commission’s best interest to compromise and reach a consensus with Ripple. Deaton has stated that if Ripple manages to pay $20 million or less in any potential settlement, it would be a “99.9% legal victory” for the crypto firm.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Fred Rispoli, John Deaton |
| Companies | Securities and Exchange Commission, Ripple |
| Currencies | XRP |
| Securities | None |
