Ashley Prosper, a prominent commentator in the cryptocurrency industry, has provided insights into the Ripple v. SEC case, outlining potential timelines for a settlement and final ruling. While there is no fixed date for a settlement, Judge Torres could issue a final ruling between July and September.
The next stage in the case is the SEC’s reply in the remedies phase, which is scheduled to be filed today, May 6, 2024. According to the court’s order, the reply will initially be filed under seal to allow for necessary redactions. A redacted version will then be filed in the public docket on May 8.
Prosper suggests that after the SEC’s reply, Judge Torres could issue a final ruling sometime between July and September 2024. However, there is a possibility that one of the parties may appeal the ruling, which would move the case to the Second Circuit. Legal experts speculate that the final resolution of the Ripple lawsuit could be delayed until 2026 if an appeal is made.
In his analysis, Prosper believes that the appeal may not take as long to resolve as anticipated. He also highlights the possibility of a settlement during the appeal process, projecting that a mutual agreement could be reached before a decision is made by the appellate court.
Since the start of the lawsuit in December 2020, there has been speculation within the XRP community about the likelihood of a settlement. Despite Ripple’s willingness to settle if XRP is recognized as a non-security, the SEC has shown little interest in this approach. Previous attempts at settlement conferences have been unsuccessful.
For now, the focus is on the SEC’s reply regarding remedies, which will bring the lawsuit closer to a final resolution at the district court level. The outcome of Judge Torres’ final ruling will determine whether any of the parties will pursue an appeal at the Second Circuit.
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