The groundbreaking case between Securities and Exchange Commission (SEC) and famous Blockchain Company Ripple is rumored to end in a settlement, as sources familiar with the matter have stated reports thecryptobasic.com.
SEC Lawsuit v. Ripple Settlement Is In Sight
The case between Blockchain Company Ripple and Securities and Exchange Commission (SEC) has dominated the crypto arena for the last year is rumored to be ending in a settlement. As a result, all the employees tasked with the case have been reassigned to other duties as per the source. An official statement to this effect is expected in the coming days.
A Twitter user with the username @XRP_Production said, “Anyone else heard the rumor? Settled. All staff on the SEC v. Ripple case has been reassigned. A week until the news in public,”
A well-known cryptocurrency YouTuber Ben Armstrong tweeted that he hoped this rumor was true. Armstrong said, “I can 100% confirm that I am praying that this is true. It has been included in my nightly prayers since October 1,”
Ripple CEO Brad Garlinghouse Gives Hint
SEC was afraid that it could lose some cases and the worry that a similar fate could be awaiting its lawsuit against Ripple. In a recent interview with Fox Business, Ripple CEO Brad Garlinghouse revealed that SEC head Gary Gensler feared that the SEC could lose several cases. The SEC Commissioner was interviewed a day before, and he commented, “Hey, we are gonna lose some cases.”
Gentle did not mention if he was referring to the Ripple case, but he had regularly commented earlier, and his comments were in context with the Ripple lawsuit. 3
Ripple CEO also said that he was also meeting Chairman Clayton. He also added that he met SEC Commissioners; no one ever once said ‘XRP is a security.
Earlier it was reported that SEC and Ripple have a mediation exercise that will facilitate both parties to settle. Unfortunately, earlier mediation exercises did not end positively with both sides hardening their stand. However, the latest mediation exercises are expected to give positive results given the several developments throughout the case.