The long-standing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has entered a critical phase. The important date of April 16, previously set for Ripple's appellate brief submission, is approaching.
Case Background
The case between Ripple and the SEC began in December 2020 when the commission accused the company of selling unregistered securities through XRP. Since then, the litigation has drawn significant attention in the crypto industry.
Joint Motion
Recently, Ripple and the SEC filed a joint motion to suspend current appeal proceedings. This indicates that both parties are negotiating a potential settlement, which requires confirmation from the SEC. The legal documents scheduled for April 16 are unlikely to be submitted.
Future Speculations
Experts such as Fred Rispoli and Marc Fagel suggest that the current developments point toward a higher likelihood of reaching a settlement. However, specifics remain unclear and further action at the district court level is necessary. The significance of April 16 persists as a symbolic moment potentially providing resolution to the dispute, which could clarify the regulatory status of XRP.
Nonetheless, the absence of filing on April 16 may mark a turning point for Ripple, opening possibilities for resolving the dispute with the SEC.
