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The Ripple vs SEC lawsuit was expected to get resolved but now that the year is coming to an end, the date for the case’ conclusion is likely to shift to the upcoming year. Although there is no confirmation of when the case would see its final or what would be the result, it’s clear that there are not many options at the end.
Recent poll of John Deaton, prominent crypto lawyer and known supporter of XRP was to seek how the community wants this tussle to end. He put the options for the case if it would see a settlement or face a verdict.
By the press time, about 18,024 people participated in the poll and chose from the options. Majority of votes were in support of “Settle” with 59.2% while the rest 40.8% went with “Goes to verdict” options. Clearly the first option in favor of settlement of lawsuit won out of two.
While responding to a comment on the post, Deaton revealed his own aspirations with the case, however noted that he could not put it. He said that he should also have to add the option of “decision at summary judgment” but could not do it and cited the limits.
Not a hidden fact that in general the community and other people also, considers every other option available, except for a verdict. Earlier it was reported that both sides went on to file for summary judgment. The reason behind the filing was inferred as not complicating the ongoing case any further and wrapping it up quickly saving the costs of both the parties.
Settlement at the end of the case seems to be a likely option and the community also prefers it. This way, there will be chances that Ripple’s native token would then get rid of being considered as a security.
Although the payment protocol firm reported to make efforts for settlement before the trial prior to December 2020. At the time the lawsuit was yet to start.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
