The ongoing battle between Ripple and the SEC could take a new turn with the discussion on settling the $125 million fine in XRP.
Consequences of Paying the Fine in XRP
Legal expert Jeremy Hogan suggested an alternative settlement method for the fine imposed on Ripple. Although denoted in U.S. dollars, there is a discussion around settling by transferring the equivalent amount of XRP. This could create a precedent affecting XRP’s integration into the financial system.
Community Reaction to Jeremy Hogan's Statement
The crypto community quickly responded to Hogan's suggestion. Influential commentators like JackTheRippler joined the discussion, pondering the regulators' willingness to accept such payment methods. X Finance Bull’s statement reflected the sentiment among some XRP supporters about its future role as a financial instrument.
Potential Implications for Ripple and XRP
Should Ripple settle the fine in XRP, it could solidify its status as a legitimate regulatory payment method. Such a move might inform other crypto companies’ approaches to legal settlements. Additionally, a large XRP transaction could impact its market price.
Jeremy Hogan’s notion of settling Ripple's fine in XRP rather than USD sparked significant debate in the crypto community. While still theoretical, the suggestion raises crucial questions about digital assets in legal systems and their expanded future role.
