James Murphy, better known on the Internet MetalawmanHe has a theory. He is a respected financial services lawyer in the legal space for encryption, and it is believed that the delay in rejecting the Ripple case may not be at the end of the Supreme Education Council. It can be ripples, negotiating behind the scenes.
The case? Judge Torres decision. For XRP holders, the victory was. But for Ripple itself? not quite. The ruling guarantees the results of the violations of the Securities Law and a judicial order – the details that could complicate matters if Ripple wants to make exempt securities or even think about the public subscription.
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Murphy suspected that the Supreme Education Council has taken an easy deal: refusing appeals, taking a $ 125 million penalty, and continuing. But Ripple may pay for more, in an attempt to obtain certain aspects of the ruling that has been evacuated. Not a simple request. For years, Federal judges were more open to this type of settlement. now? Not much.
A greater picture
Here’s the biggest picture: Since January, with a new SEC composition, the main encryption cases have been dropped. Coinbase. Consensys. Legal battles concluded, lifting the burdens. However, the Ripple condition continues. The fine was appointed, and XRP was not safe, but the legal process has not been officially closed.
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This remaining question – why? It is what keeps the XRP community closely monitors. John Diton, a major legal voice in space and a representative of XRP holders in a collective lawsuit against the Supreme Education Council, believes that Murphy theory is logical.
He called it solid. In February, Deaton was addressed to the new SEC commissioner directly, and asked me about the time to drop the Ripple case.
There is no clear answer yet. Currently, it is speculation, negotiations and an issue that refuses to close.
