The legal battle between the Ripple Labs and the US Securities and the American Stock Exchange (SEC) may end. The Ripple executives also confirmed, SEC agreed to return $ 75 million of Ripple amount of $ 125 million to pay last year. This would leave Ripple with a payment of only $ 50 million to settle the case. But here is hunting: The Supreme Education Council has not officially confirmed anything yet.
The Grand SEC meeting was set on April 10
SEC has a closed meeting scheduled for Thursday April 10. This is expected to be very important because the final date of the Ripple to submit its response to the appeal process is just after Wednesday April 16.
If SEC wants to withdraw its appeal about Ripple XRP sales, you may need to make this decision during this week’s meeting. Otherwise, the case can continue in court.
The legal expert says that there is something soon
Lawyer Farid Reesboli, who is closely following the case, said that something will happen before or on April 16. He said that there is a 90 % chance that the case will be settled or the appeal will be withdrawn – and Ripple will only have to submit its legal summary.
When asked if the Securities and Stock Exchange Commission had already agreed to end the case, Rispoli said that the two sides had likely reached an agreement behind the scenes – but the Supreme Education Council has not yet provided anything public, which is a standard for them.
Why this matters
The call revolves around whether Ripple XRP sales are illegal. A judge spent no Securities – A great victory for Ripple and the encryption industry. If the Supreme Education Council officially drops its appeal, this will be a big step towards ending the issue forever.
What next?
All eyes are now at the SEC meeting on April 10. If the Securities and Stock Exchange is behaved, we may see that the legal battle finally ends by April 16. Until then, the fate of Ripple – and for a major moment of encryption regulation – is still waiting.
