At a possible turning point for the XRP case, the Fox Business Eleanor Terrett reported on Wednesday that the US Securities and Stock Exchange Committee (SEC) and Ripple may soon reach an agreement. “Two sources in a good situation told me that the SEC case against Ripple (…) may end soon,” Territ said, adding that “the delay in reaching an agreement is due to the negotiation of the Ripple Legal Team on more appropriate conditions regarding the August court ruling.”
This ruling struck Ripple with a fine of $ 125 million and banned from selling XRP to institutional investors. Terrett sources indicate that the Ripple team is declining, and insists that if the new SEC leadership aims to “scan the clean enforcement list” to the encryption companies that were previously targeted, Ripple should not be held to a ruling that may not reflect the agency’s position. “There is no real theatrical book for this,” Teret pointed out, with a focus on how this unique scenario takes “a longer solution than the rest.”
Easy road to finish XRP suit
Pro-XRP Attney Fred Rispoli Allegedly By X that resolving the dispute over the judgment should be relatively clear – if the Supreme Education Council is ready. “I do not see this is the big issue that some make,” commenting, describing the unconventional but uncomplicated process.
According to Rispoli, there are multiple methods that the agency and ripples can neutralize the order of Judge Torres. He stressed: “SEC and Ripple can submit a proposal to evacuate the ruling – cleaned a way to get rid of it. Tell the court” into consideration to lose our entire jurisdiction if we lose the appeal, we agree to evacuate the ruling in exchange for dropping its appeal. “Torres will not guess this second.”
He also indicated that even without officially evacuating, SEC can formulate an agreement stating that it will not implement the ruling for the same. “The Supreme Education Council does not even have to evacuate the request. An agreement with Ripple can simply be drafted that the judgment will not be implemented for the same consideration.”
Reesboli added: “The reference to the extensive discretionary authority of the agency under its enforcement guide, which routinely recommends a settlement on the uninterrupted litigation,” SEC enforcement guide contains all types of general language that recommends cooperation and settlement on uncertainty in litigation, and thus it is covered to power (…) but even if it does not merge? This is not a good thing, but the Supreme Education Council (and most of the other .gov agencies) have proven to do what you want, when you want, without looking at the due legal procedures. Here, it works for justice for justice. “
Although Rispoli is optimistic, some members of society are concerned about a potential recovery for a tougher enforcement under different leadership below the line. A user asked the social media platform X the question: “What if, for example, in 4 years, we went back to SEC similar to the Gensler and SEC and then trying to enforce the gossip?”
Rispoli replied: “This is the only fear … but it can be eliminated through an agreement to replace between SEC and Ripple. If your scenario happens, Crypto has already lost more and more people than Ripple.”
Can the court decision really overcome?
The second dispute point includes whether SEC can effectively cancel the provincial court decision by settling negotiation. Critics argue that administrative agencies should not be able to overcome the final rulings.
However, Rispoli pointed out a noticeable precedent that includes Citigroup. He referred to SEC V. Citigroup Global Markets, Inc. , 673 F.3D 158 (2D CIR. 2012), where the Court of Appeal reflected the provincial judge’s refusal to approve the SEC settlement.
“This has happened before,” and pointed out that the courts often give great respect to the decrees and settlement agreements proposed by the Supreme Education Council and their enforcement goals. In this case, the second circle concluded that the provincial court had erred not to postpone the SEC ruling to accept the settlement.
At the time of the press, XRP was traded at $ 2.21.
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