The crypto industry’s biggest and most crucial legal brawl is that of Ripple and the U.S SEC. Which is now imperative to not just the firm and the XRP holders, but to the entire community. As the justice prevailing in the favor of Ripple would mean the crypto street’s victory against any future allegations against any other crypto asset.
Moreover, Ripple’s triumph against the regulating authority would make it the only asset to have claimed clarity by law. Howbeit, the ruthless and irrational conduct of the SEC has been a major hurdle. Meanwhile, attorney John Deaton illuminates the two possible requisites to cease legal combat.
The End To The Legal Brawl?
The court of appeals had earlier issued orders to both parties. To file a supplemental briefing on Deliberative Process Privilege in light of the second circuit case. In terms of the order, the parties shall simultaneously file letter briefs in no longer than 3-pages as CoinPedia had earlier reported.
Enthusiasts from the business have been curious over the outcome of the proceedings. In the interim, attorney John Deaton indexes on two feasible requisites. To cease the legal combat in favor of the defendants and the plaintiff, which are as cited below.
- Favorable rulings for Ripple on fair notice and on the deliberative process privilege (DPP).
- An alt coin bull market causing XRP to surpass its ATH, towards claiming the $5 mark or higher.
The attorney further cites that Ripple owns 50 Billion XRP. If XRP prices reach the $5 mark. Ripple’s valuation would be at $250 Billion. On the contrary, if Judge Torres denies the SEC’s motion to strike the fair notice defense. And Judge Netburn overrules the SEC’s claim that the documents of XRP, BTC, and ETH are privileged. The SEC could be at losses with huge repercussions.
The implications would result in the SEC trying to avoid the trial or summary. If XRP hits $5, Ripple could sell 10% of the monthly unlocked escrow. And pay a settlement tallying as high as $500 million, which would be a notable victory for the SEC. The settlement could be one of the biggest settlements in the history of the SEC.
Collectively, if it includes a declaration that ongoing sales of XRP are not securities. XRP gets relisted with the establishment of clarity. The SEC can employ the money to reimburse the losses incurred by XRP holders. Which could be a win-win situation for both the plaintiff and the defendants of the legal battle.