According to the latest reports, the XRP settlement between Ripple and SEC could be an imminent issue according to the latest reports. Check out more details below.
Ripple new data about SEC trial is out
According to the latest reports, a legal expert who is closely following the U.S. Securities and Exchange’s (SEC) crypto case against Ripple says the window for a potential settlement has arrived.
Attorney Jeremy Hogan, who is an XRP proponent, and US legal counsel, says the SEC’s allegations that Ripple sold XRP as unregistered security could be resolved even during the course of this month.
According to Hogan, now is a perfect time and logical time for the parties to reach an agreement since both sides have laid out their case.
“[The] most likely settlement timeframe is from now until the end of November, because the cards will be on the table.”
Hogan addressed the fact that it would not be possible for Ripple executives to know XRP was a security back in 2012 if the SEC itself didn’t know – or at least did not make it clear – until launching its lawsuit in December of 2020.
As the online publication the Daily Hodl notes, at the moment, Hogan said that the SEC should give the crypto industry clarity.
He does this by firmly stating its stance on which of the top digital assets on the market count as securities.
“The SEC should be able to go down a list of the top 20 cryptocurrencies and tell us which are (and aren’t) securities. Why not? Why does it CHOOSE ambiguity? Isn’t it supposed to be protecting us from these projects that aren’t following the law?”
In other recent news, a partnership between the Colombian government and Ripple Labs to put land titles on the blockchain seems to have stalled following the project being “deprioritized” by the new administration. Check out more details in our previous article.