More On: ripple lawsuit update
In the coming weeks, President Biden will nominate a former Ripple adviser to be the Fed's Vice-Chair for Supervision.
According to Cryptolaw founder John Deaton, there will be no settlement in the Ripple-SEC litigation within the next 30 days, despite persistent reports to the contrary. As of right now, the Ripple-SEC case looks to be moving along gradually.
I don’t read anything into whether the case is listed on the website or not. As I told @ThinkingCrypto1 today, I don’t see a settlement within the next 30 days.— John E Deaton (@JohnEDeaton1) March 8, 2022
The SEC's staff is losing trust in the agency's ability to win the case, according to Eleanor Terrett, a Fox journalist. According to Terrett, SEC Commissioner Hester "Crypto Mom" Peirce has privately expressed her fear that the SEC may not accomplish the end it seeks, according to a person close to the organization.
🚨SCOOP: Turns out even staff at the @SECGov aren’t confident they will win the case against @Ripple. A source close to the SEC tells me @HesterPeirce has expressed privately she thinks the SEC will not get the outcome it’s looking for.— Eleanor Terrett (@EleanorTerrett) March 7, 2022
Brad Garlinghouse, Ripple's CEO, has claimed that Ripple was anticipating some judicial judgements. The court has yet to rule on the SEC's pending motion to invalidate Ripple's fair notice defense. By John Deaton's estimation, the SEC's move for reconsideration is the "biggest decision" in the case, and the XRP community eagerly awaits Sarah Netburn's conclusion.
The individual defendants' motions to dismiss the action have yet to be decided by Judge Analisa Torres (Brad Garlinghouse and Ripple co-founder Chris Larsen). According to John Deaton, Ripple may seek more discovery if the individual defendants' efforts to dismiss the case are rejected.
Ripple-SEC litigation attorney Jeremy Hogan has made a prediction about the case's end date in recent tweets. Between August 26 and November 18, Ripple expects the litigation to be resolved, according to Hogan. A bargain had been formed, but he went on to say that it may settle at any time.
According to the XRP-friendly attorney, the SEC and Ripple may follow a few procedures, including a meeting to reach a settlement within fourteen days after fact discovery.
The settlement negotiations, according to Hogan, might take place in April or May, he said. Since the most recent settlement attempt, which took place around a month ago, had been unsuccessful, he believes that mediation will serve as the best next step in the process. In September, Hogan expects a summary judgment hearing.
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