Last Updated on September 25, 2022 by Bitfinsider

The hope of reaching a settlement between the two parties is on everyone’s mind as the Ripple v. U.S. SEC lawsuit nears the summary judgment. The XRP holder’s attorney has since clarified the situation.

Will the SEC deem XRP to be “non-security”?

There are many, including the founder of Crypto-Law.us John E Deaton, who think that Ripple won’t agree to a settlement at this time. If SEC Chair Gary Gensler had agreed to designate all current and future sales of XRP as non-security, Ripple CEO Brad Garlinghouse would have issued the check right now.

He continued by saying that Ripple may obtain a favorable verdict and would not fail to settle the global cryptocurrency market. The shareholders of the company, not the cryptocurrency market, are responsible for the CEO of Ripple. There is no guarantee, though, that Ripple will outperform the judge’s decision.

He also emphasized that the settlement will provide regulatory certainty rather than regulatory clarity for the XRP cryptocurrency. Second, since a settlement puts an end to the legal process, there are no appeals. The SEC might appeal in the event that Ripple wins the summary decision.

Going beyond the Summary Judgement

Deaton noted that if the commission rules that all current and future sales of XRP are not securities, the exchanges will relist the cryptocurrency. If a judge rules that XRP is not a security, it is likely that her ruling be appealed and the coin will probably be relisted on exchanges.

He made the implication that there’s a chance the judge won’t be able to resolve everything. If the jury decides to proceed with the full-length trial, the case may be continued.

In response to the conditions created by the litigation, Ripple has successfully adjusted itself. The issue has caused significant harm to the blockchain company and its native coins, according to Deaton. He also came to the conclusion that these things does not imply a quick resolution.

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