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The U.S. Securities and Exchange Commission’s lawsuit against Ripple will soon begin its decisive summary decision to see the status of the case. Meanwhile, John Deaton, Amicus Curiae, in a lawsuit outlined the possibility of the SEC entering into a settlement agreement with the defendants.
Will Ripple’s lawsuit end in a settlement agreement?
Deaton in a Twitter thread mentioned that he argued that the settlement of the Ripple lawsuit depends on the SEC. He added that it also depends on the disclosure of drafts of Hinman’s speech, emails and other related documents.
He also added that instead of going down that path, the SEC is looking forward to other developments. If the commission receives a decision different from that expected in the LBRY case, it may consider entering into a settlement agreement.
However, Deaton believes that there will be no settlement unless one or both of the events mentioned occur. He stressed that he is an amicus in ripple’s lawsuit, so Deaton is not in the best position to speculate on the matter.
Meanwhile, both sides have submitted a joint proposal for an upcoming final judgment. The SEC and Ripple are seeking court approval of a secrecy motion against an as-yet-unsubmitted judgment.
XRP vs ETH
It is expected that in the consolidated decision on the Ripple lawsuit, a comparison can be made between XRP and ETH. However, exposing the documents with Hinman’s speech is still the key to the case.
However, SEC Chairman Gary Gensler is unwilling to agree because of political risks. XRP’s lawyer added that until this outweighs the political benefits, the commission is not going to do so. Meanwhile, he still believes Gensler has nothing to lose if he doesn’t settle Ripple’s lawsuit.
Deaton mentioned that if the SEC wins the final decision, it will give Gensler confirmation. This will force the commission to justify that they can regulate cryptocurrency tokens.
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