One of the long running Ripple vs SEC legal battles is getting interesting each passing day. Also with the way the proceedings are moving the XRP community can soon expect a final conclusion.
While the conflict between US Securities and Exchange Commission (SEC) and Ripple flashes some closures to happen soon, prosecutor Scott Chamberlain pens down his predictions. The attorney disclosed his five possible consequences from the XRP lawsuit via Twitter.
The first outcome that Chamberlain expects from Ripple vs SEC is a summary judgment to be in favor of Ripple. This is because the attorney is of the opinion that the SEC lacks required proof against the payment firm’s Chris Larsen and Brad Garlinghouse.
Next, Scott asserts that there could be a summary judgment in terms of Ripple’s overseas sales. As per Chamberlain, we might see a new development where the court would pass a judgment claiming Ripple’s XRP overseas sale as the final one.
The third possible outcome might be a summary judgment that denies any claim that XRP is a security. This is because Scott is of the opinion that there is no proper evidence that proves XRP as a security. If this happens, SEC’s claim will be classified as a scheme that was made against Ripple.
Furthermore, as per attorney the next outcome could be a verdict which would only look at Ripple’s XRP sale in the US that involved an unregistered investment contract.
Lastly, Scott Chamberlain claims that the SEC vs Ripple case could see a settlement. If the court decides to overlook Ripple’s overseas sale, then the SEC will have no other element left to claim against Ripple.
It’s just not Scott Chamberlain, many other securities law experts have stated their opinions. One such expert is the Twitter user @MetaLawman who asserts that the current proceedings are in the right direction. His comments come after the judge favored Ripple’s objection to expert testimony offered by SEC. However, the final outcome is yet to be seen.
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