The legal battle between the US Securities Committee and the American Stock Exchange (SEC) and Ripple is close to the end, with a settlement that is likely to come soon, according to joint sources with Eleanor Terrett “Fox Business. The legal Ripple team is currently negotiating for better conditions after the court ruling in August 2023. The ruling imposed a fine of $ 125 million on Ripple and prevents the company from Selling XRP to institutional investors.
Delay in the settlement is that Ripple wants to change the conditions of the court. Reports indicate that the Ripple team argues that if the Supreme Education Council reduces other encryption companies, Ripple should not face sanctions. Ripple believes that acceptance of current terms will make them admit the error, but SEC is not sure now if any violations have already occurred.
Charles Gaspino, whose reaction to the situation added, added that one of the main issues that the Securities and Stock Exchange consider whether to deal with XRP like Ethereum. XRP and Ethereum have been sold through the initial currency offers (ICOS) to raise funds for its platforms. But while a lawsuit against Ripple was filed on XRP, Ethereum was not, because it became a commodity. SEC now discusses whether XRP should also be considered a commodity like Ethereum.
“What is discussed now is the comparison between encryption 2. The Supreme Education Council believes that ETH is trading as a pure commodity.” They are trying to determine whether the committee can make this issue W $ XRP, “Gasparino books.
Lawyer for XRP John Diton I suggest that SEC consider some important points before making a final decision:
- The 2018 essay was argued by Giancarlo (former Chairman of the Justice Trading Committee) that XRP is not safe.
- SEC’s 2018 XRP analysis was not described as safety or suggesting enforcement procedures against Ripple.
- Former SEC Commissioner Joe GrundFest in the 2020 Message, why XRP is dealt with differently from ETAREUM.
