United State Securities and Exchange Commission (SEC) and Ripple Labs is expected to continue doing so Finalizing the settlement after Official dismissal Of the former’s allegations against Ripple CEO Brad Garlinghouse and her partners Co-founder Chris Larsen. In line with that, Pro-XRP legal expert John Deaton He revealed how the settlement will proceed.

The settlement will not be clear and straightforward

in mail Sharing it on his platform He said that the Commission is “angry and embarrassed and wants a $770 million fine.” Ripple violates securities laws.

He further noted that the penalty phase is not as straightforward as some might think, because it is “like a second case” but requires more depositions, interrogations, requests to produce documents, emails, bank statements, contracts, ODL transactions.

The process has also become more difficult as at the Securities and Exchange Commission sphincter On $770 million fineRipple wants to “drastically reduce the number,” Deaton said. To achieve this, Ripple will look to exclude ODL transactions, which the SEC may claim are subject to institutional sales in violation of securities laws.

Deaton He also alluded to the case of Securities and Exchange Commission v Decentralized content sharing platform LBRY, which took “eight months of additional litigation” before a judge ordered that the platform pay a $111,614 fine to the commission. This case was also not straightforward as both parties had to file multiple submissions again and depositions were taken.

How might the SEC case against Ripple end?

As for when the final ruling can be issued Judge Annalisa TorresDeaton doesn’t expect that to happen until late summer “at the earliest.” With that in mind, he mentioned that it could take a full year before the SEC (or even Ripple) gets a chance. Submit an appeal In this case.

Lawyer once again Mention the role Coinbase’s Movement Denied (MTD) could play in this case and the potential settlement. He said the SEC “will have to change its anti-crypto agenda and then potentially reach a settlement with Ripple” if Judge Failla agrees with the proposal.

However, it is unlikely that a settlement will be reached if the cryptocurrency exchange loses the value of the MTD. Coinbase She is asking a judge to dismiss the lawsuit brought against her by the Securities and Exchange Commission, arguing that the SEC has no jurisdiction over her activities. Coinbase’s oral argument is scheduled to be heard on January 17, 2024, and a ruling will likely be issued within 60 to 120 days after that.

XRP drops to $0.54 | Source: XRPUSD on Tradingview.com

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