The lawsuit between the SEC and Ripple could have its epilogue in 2023

by | May 30, 2022 | Analysis | 0 comments

The lawsuit between the SEC and Ripple is undoubtedly one of the most important in the cryptosphere. The tensions that exist between the US regulator and the industry are clearly illustrated by this legal dispute. After numerous postponements and presentations of evidence in court, it appears that the outcome of the case is close. General Counsel for Ripple Labs, Stuart Alderoty is confident that this case will be over next year.

Ripple wants to settle the case quickly

The Ripple-SEC case could end in 2023 according to attorney Stuart Alderoty, who reportedly said on Twitter that his employer and the SEC are doing everything possible to resolve the dispute, despite the SEC's maneuvering to delay the outcome. Investors have suffered an estimated multi-billion dollar financial loss since December 2020.

The lawsuit between the SEC and Ripple could therefore end in 2023. Negotiations are currently continuing, but lawyers on both sides seem confident in their respective strategies. The SEC seems determined to ban XRP in the United States, which does not please Ripple Labs, which sees this measure as disproportionate to the problem posed. For its part, the American company hopes that this lawsuit will clarify once and for all the issues surrounding the legality of XRP.

Irrational regulation that stifles innovation and growth

Even though Ripple has already suffered heavy losses, making it an easy target for the SEC, the lawsuit is likely to last several more years. Ripple's lawyers have already indicated that they will appeal, but it is unlikely that the Supreme Court will take up the case. On the SEC's side, they hope to clear things up and impose some order on the cryptocurrency market to curb fraud. But to what price for Ripple

Alderoty also pointed out that the crypto industry is in the midst of an exodus, fleeing to countries where governments can offer rational regulation. Talent, know-how and capital are rapidly moving to other lands to ensure a brighter future for our high tech industry, which seems to be struggling to find its footing on American soil right now.

As the trial between Ripple and the SEC continues, the words of Ripple Labs' general counsel have added fuel to the fire of the latter's lawyers. According to him, Ripple will accelerate things in order to win this lawsuit and thus put an end to the tense relations it has with the SEC. This outcome will mark a significant turning point for crypto-currencies which will finally be fully recognized as securities

The lawsuit between the SEC and Ripple could come to an end in 2023 according to sources close to the case. Indeed, the two parties could reach an agreement by then that would allow Ripple to continue its activities without being subject to the strict rules imposed by the SEC. This decision would be motivated by the fact that Ripple is considered a technology more than a cryptocurrencyThis explains its much lower volatility on the financial markets.

So the trial between the SEC and Ripple may soon be over, but the implications of this ruling will undoubtedly be crucial to the future of the blockchain. Regardless of the outcome of the trial, it is certain to mark a milestone in the development of cryptocurrencies and this revolutionary technology.


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