Is the Ripple vs. SEC Dispute Coming to an End? Chief Technology Officer Suggests a Possible Resolution by 2024
Important Update on Ripple vs. SEC Lawsuit: Positive Outlook for Resolution in 2024
In a recent interview, Ripple’s Chief Technology Officer (CTO), David Schwartz, shared a glimmer of hope for the ongoing Ripple vs. SEC lawsuit. Speaking with Tony Edward, the founder of Thinking Crypto, Schwartz expressed optimism and hinted at a “reasonable chance” of the case reaching a conclusion this year.
The statement made by Schwartz has sparked interest and raised hopes within the XRP community. Although he did not provide specific details, his positive outlook suggests that there may be a potential resolution to the Ripple vs. SEC lawsuit in 2024.
The SEC vs. Ripple case has now entered the remedies stage, with the final motion expected to be filed by April 29, 2024, according to the court’s schedule. Following this, the SEC will respond to Ripple’s opposition to their remedies-related motion. Legal experts anticipate that Judge Analise Torres may issue the remedies ruling by the summer of 2024.
In an intriguing development, Judge Torres, a New York judge overseeing the case, has mandated that Ripple Labs provide financial statements and information regarding the institutional sale of XRP tokens. This decision came after a lawsuit accused the crypto firm of unlawfully selling unregistered securities nationwide.
Judge Torres’ earlier ruling in July, which identified Ripple’s institutional XRP sales as violating U.S. securities laws, was seen as a victory for the crypto industry’s quest for regulatory clarity.
To aid Judge Torres in determining potential injunctions or civil sanctions, Ripple will submit critical documents related to violations that occurred before the 2020 filing. It is worth noting that in early January, the SEC sought sanctions against Ripple, further intensifying the legal standoff.
While the specific factors influencing Schwartz’s prediction remain unclear, the ultimate resolution of the Ripple vs. SEC lawsuit lies in the hands of the presiding judge. Throughout this legal battle, Ripple has experienced moments of triumph, and its dedicated community hopes for continued positive outcomes.
Stay tuned for more updates on the Ripple vs. SEC lawsuit.
Tags: Ripple (XRP)