• The Securities and Exchange Commission (SEC) is close to announcing a verdict in its lawsuit against payment giant Ripple.
• Members of the XRP community are speculating on when Judge Analisa Torres will announce her ruling, with many predicting July 2 to 4 as the most likely dates.
• Attorney John Deaton believes that a settlement is unlikely in the SEC’s case against XRP, but some legal experts argue it could still happen if both parties decide it’s in their best interest.
Verdict Between SEC and Ripple Soon
The Securities and Exchange Commission (SEC) of the United States is expected to reach a final verdict in its lawsuit against payment giant Ripple soon. Members of the XRP community, who hold the altcoin, are eagerly awaiting the outcome and are speculating on when Judge Analisa Torres will announce her ruling, with many predicting July 2 to 4 as the most likely dates. This legal battle between the SEC vs. Ripple has been ongoing since 2020, with the regulator accusing Ripple and its executives of violating US Securities laws by selling XRP.
Predictions from Ashley Prosper
Ashley Prosper, a member of the XRP community, has analyzed the case and predicted several possible dates for the verdict in June and July, including June 5, June 21, and July 2 (six months from filing the summary judgment briefings) and July 4. Unconfirmed reports of a meeting between the SEC and Ripple have surfaced.
John Deaton’s View on Settlement
Attorney John Deaton, a proponent of Ripple, believes that a settlement is unlikely. He stated that a settlement can only occur after Judge Torres’ ruling and only if Ripple wins the case, allowing the SEC to save face. Therefore, Deaton does not believe that a settlement is viable in this case against XRP at this time. However some legal experts argue it could still happen if both parties decide it’s in their best interest to avoid any further legal battles or complications.
Impact on Altcoin Community
The result of this lawsuit could have long-term implications for altcoins like XRP which have been described as “unregistered securities” by some regulators like those at FinCEN (Financial Crimes Enforcement Network). If found guilty then Ripple may be subject fines or other penalties resulting from violations related to unregistered securities offerings or money laundering activities associated with virtual currencies such as Bitcoin or Etherium – amongst others – depending upon how severe these violations may be deemed by regulators across different jurisdictions globally
At present however it remains unclear as to what direction this case will take nor how long it will take until an official judgement can be reached by all involved parties; ultimately leaving investors & participants within digital asset markets extremely uncertain until such time comes when all can breathe slightly easier again once news regarding any resolution arrives officially via reliable sources