The long-standing legal battle between Ripple and the Securities and Exchange Commission (SEC) over the alleged unregistered securities offering is expected to come to a close soon. The SEC filed a lawsuit against Ripple, Chris Larsen, and Brad Garlinghouse after Ripple raised $1.3 billion through its XRP token sale. The presiding US District Court Southern District of New York could rule in summary judgment within a few weeks.
Both the SEC and Ripple have asked for summary judgment, but the case has continued to drag on without a final decision. It’s worth noting that the SEC has won every crypto lawsuit it has filed in court, either by ruling or settlement. However, Ripple has not settled the SEC’s lawsuit despite the SEC’s impressive track record.
Potential Outcomes:
Given the 10-figure sum at stake, a settlement might have permanently bankrupted Ripple or its executives, leaving them little choice but to take their chances in court. If Ripple loses this round, it could appeal the decision all the way to the Supreme Court, further extending the legal battle.
The SEC vs. Ripple summary judgment is expected in April. Ripple’s legal battle has dragged on for years, and the outcome of this case could have significant implications for the crypto industry. Ripple could decide to pay a fine and move on or maintain the current status quo of indecision. We will have to wait and see how the case unfolds in the coming weeks.
