The ongoing clash between Ripple Labs and the Securities and Exchange Commission (SEC), things just got more interesting. XRP lawyer Bill Morgan sheds light on a game-changing move by major exchange Kraken, throwing a curveball into the negotiation process and making a settlement seem unlikely for now.
Kraken, a big player in the crypto world, has taken a bold step by filing a motion to quash the SEC’s complaint against them. This move incorporates Ripple’s legal tactics, creating a strong defense. Bill Morgan points out that Kraken’s move adds complexity to settlement talks.
Kraken strategically uses Judge Torres’ findings on programmatic sales to boost its defense. This not only strengthens Kraken’s position but also puts pressure on the SEC, potentially pushing them to appeal Judge Torres’ decision. The legal dance in the courtroom makes settling the Ripple vs SEC case even more challenging.
Morgan highlights that Kraken’s defense poses challenges for the SEC, complicating their efforts to settle. The key issue is the relationship between issuers and buyers, with Kraken aiming to be a solid link. The question of investor profitability, as per Judge Torres’ rulings, adds another layer to the SEC’s challenges.
Also Read: Ripple News: Major Token Unlock & Whale Movement Shakes Up XRP Price
While the XRP community awaits the SEC’s next move, the chances of a settlement remain uncertain. Kraken’s unique defense strategy introduces a new angle to the ongoing legal battle, leaving both supporters and skeptics wondering about the outcome.
The clash between innovation and rules continues, and Kraken’s stance emphasizes the challenges ahead. The resolution timeline remains unclear, with users eagerly awaiting the next chapter in this legal saga.
Read More: How will Ripple’s AMMs Bet Impact the XRP Price?
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