Rumors about a possible settlement in the Ripple and SEC lawsuit have gained traction in the XRP community because of an SEC closed-door meeting scheduled to take place on January 23. Notably, this would be the first meeting under Acting Chairman Mark Uyeda’s leadership.
The meeting, set at 2:00 p.m. Eastern Time, will occur remotely or at the SEC headquarters in Washington, D.C.
The Sunshine Act notice outlines the agenda, which includes discussions on litigation claims, settlement of administrative actions, and enforcement matters. The meeting garnered significant attention shortly after Uyeda succeeded Gary Gensler on January 20.
Known for his pro-crypto stance, Uyeda’s leadership has fueled speculation about a potential resolution to the long-standing Ripple case, which has been a focal point in the regulatory landscape of digital assets.
Ripple’s Counter-Argument Submission Timeline
In the ongoing Ripple lawsuit, the SEC recently filed its opening brief with the Second Circuit Court of Appeals. This brief challenges the District Court’s ruling that Ripple’s programmatic sales and other XRP distributions were not securities.
Ripple must now submit its counter-argument in response to the SEC’s filing, a critical step in the appeals process that will determine how the case progresses. The XRP community has shown optimism about a possible settlement, particularly given the inclusion of litigation resolutions in the SEC’s agenda.
Ripple enthusiasts are hopeful that Acting Chairman Uyeda and Commissioner Hester Peirce will advocate for a resolution, potentially ending the case that has persisted since December 2020.
Conclusion
As the SEC gears up for its first closed-door meeting under Uyeda, the Ripple lawsuit remains in the spotlight. The XRP community eagerly anticipates Ripple’s counter-argument in the appeals process and hopes for progress toward a resolution during the meeting.
However, with no guarantees, the legal battle is expected to remain a key topic of discussion in the cryptocurrency world.
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