The much-anticipated lawsuit is set to conclude in either June or July, with all signs pointing towards a smooth resolution. If all goes as planned, Ripple could potentially be on the hook for a staggering $100 million.
The legal battle between the SEC and Ripple has officially entered its trial phase, bringing with it the promise of a dramatic conclusion in the coming months.
As the case unfolds, the stakes only get higher for Ripple, with mounting legal fees and the potential exposure of illicit activities within the cryptocurrency world. The tension is palpable and all eyes are on the courtroom as this high-stakes clash of titans plays out.
The latest scheduling order handed down by the honorable Judge Netburn calls for a crucial step in our legal proceedings: the setting of remedies and determination of final judgment. And let’s not forget, the regulator in this case, the SEC, has been given a strict deadline of April 29th to file its response. As for Ripple, they have a mere three business days to craft their reply.
How Is the Case Likely to Go?
Rumor has it that the esteemed Judge Netburn, known for her open-mindedness towards XRP, has been chosen as New York’s District Judge for the Southern District. Could this be a game-changer for Ripple? With a history of being tough on digital currency, the industry is buzzing with hope that Judge Netburn will bring a refreshing perspective and not follow the strict stance of her predecessors.
Exclusive: Crypto Market Braces for Mt. Gox Bitcoin Payout: Will Prices Sink or Swim?
Bitcoin whales gathered 266k BTC since January: Santiment
Grayscale announced spin-off Bitcoin ETF with lowest industry fee
The honorable judge’s declaration in 2021 acknowledged that while XRP may not hold value as a traditional currency, its practical value sets it apart from the likes of ether and bitcoin.
The latest prediction for the settlement amount in the Ripple lawsuit is a staggering $100 million. But that’s not all – experts believe the case could finally come to a close by the summer, but only if Ripple manages to secure a disgorgement and avoid paying the full $2 billion in fees demanded by the SEC.