Why Ripple Could Pay Up $250M to End SEC Legal Bout

  • The Ripple vs SEC lawsuit has entered a critical phase, with the possibility of a settlement looming.
  • John Deaton recently provided insight into the potential settlement.
  • Dr. Roslyn Layton has requested access to documents related to a speech given by a former SEC official.

Ripple Drama Sparks Settlement Chatter

News of the legal battle between Ripple and the SEC continues to captivate the crypto space, with the possibility of a settlement emerges. 

While Ripple CEO Brad Gardlinghouse maintains confidence in the company’s victory, XRP advocate John Deaton suggests that Ripple would pay up to $250 million to settle the case if the SEC agreed.

However, Deaton acknowledges that the regulatory agency may not agree to such a settlement, given their current stance towards the crypto industry.

Regardless, Judge Torres has not yet provided clarity on the matter of secondary sales of XRP. The continued lack of a court resolution has led to lawyers and journalists across the sector weighing in.

Forbes journalist Dr. Roslyn Layton has asked a court for permission to access documents related to a speech given by former SEC official William Hinman. The documents could be crucial to the case. 

SEC Playing Defense

She argues that the SEC has been inconsistent in treating different cryptocurrencies, and that the Hinman Speech Documents could illuminate why this is the case. Pro-XRP lawyer James K Filan has supported Layton’s motion and shared it on Twitter. He believes that the documents are relevant to the case and that the public should have access to them.

Layton believes that the stakes are high for Ripple and its executives and XRP holders, who have lost billions of dollars due to the SEC’s actions. 

On the other side, The SEC has previously refused to produce the documents, citing the preservation of confidentiality.

On the Flipside

  • Ripple CEO Brad Garlinghouse has stated that the company will not settle the case with the SEC and is confident in their ability to win.
  • Ripple has continued asserting that XRP is a currency, not a security, and has criticized the SEC for its inconsistent treatment of different cryptocurrencies.

Why You Should Care

Suppose the Hinman Speech documents show that the SEC’s treatment of XRP was inconsistent or unfair. In that case, it could strengthen Ripple’s case and potentially lead to a more favorable outcome in the ongoing lawsuit. Additionally, access to these documents could help Ripple build a stronger argument for XRP’s status as a currency rather than a security, which is at the center of the SEC’s case against the company.

Find out more on recent changes at Ripple:
Ripple Shakes Up Leadership Ahead of XRP Lawsuit Outcome – What to Expect in Advance 

For more information on the SEC and Ripple Lawsuit:
Ripple’s Legal Drama Puts US SEC Judge on the Spot

Sourced from dailycoin.com.

Written by on 2023-02-23 16:00:00.

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