As the legal battle between Ripple and the SEC nears resolution, lawyer Bill Morgan highlights crucial aspects of the joint motion filed by both parties that could result in a settlement.
Key Takeaways from the Motion
Lawyer Bill Morgan states that the most compelling argument in the joint motion is the necessity for Judge Analisa Torres to amend the final judgment to facilitate a settlement between Ripple and the SEC. The motion requests the lifting of restrictions on institutional sales of XRP and the reallocation of penalties: $75 million to Ripple and $50 million to the SEC.
Risks and Criticism
Critics caution that the court may reject the motion, as the standard for 'exceptional circumstances' is quite high, and merely wanting to settle may not be a sufficient basis. Morgan also notes that the court might feel pressure, suggesting that 'the parties are really imposing a fait accompli.'
Court Decision Prospects
Despite the risks, Morgan believes Judge Torres might approve the motion. Pro-XRP lawyer John Deaton even estimates a 70% chance of it being granted. However, if Judge Torres rules too quickly, as she did in rejecting the last joint motion in just seven days, it could pose challenges for Ripple. All eyes are now on the court, with whispers of a decision early this week.
The joint motion from Ripple and the SEC raises significant questions and potential changes in the final court rulings. The situation is evolving, and the next decision may have serious implications for both parties.
