Ripple vs SEC lawsuit is approaching a crucial phase where-in a settlement could be on the horizon
While no hard evidence appears to support the claims of the SEC, the Summary Judgement is also speculated to be in favour of Ripple
The Ripple VS SEC case is advancing every new day, expecting a course at the earliest. Hence, both parties have filed their replies to the motion and are eagerly waiting for the summary judgment. Meanwhile, Stuart Alderoty, the Ripple General Counsel previously hinted towards a possible settlement with the SEC recently.
In his latest comments, the general counsel again hints towards the defendants of Ripple proceeding towards a settlement again. Both parties have now urged Judge Torres to produce the ruling in favor of the motions for Summary Judgement. The lawyer further debugs the narrative built against Ripple. He believes that the SEC does not have any answers and hence continues its attempt to recast Ripple’s argument.
He pointed out the fact that there is no contract of investment between Ripple and the XRP holders. Moreover, the SEC is still unable to satisfy a single prong of the Howey test. He also mentioned that the brief which has been submitted portrays that XRP was never purchased as a security of Ripple. Additionally, the conclusion drawn from amici briefs and the evidence without any base is believed to defeat the commission’s claims with ease.
Above all, the final verdict of the Ripple vs SEC case is believed to bring drastic changes within the crypto space and also change the perspective of the common man. With the closure of the Ripple vs SEC case, the cryptos are expected to be widely accepted around the globe after being regulated.
Source: https://coinpedia.org/news/the-sec-may-be-trapped-here-know-the-recent-ripple-vs-sec-updates/