Despite the SEC softening its aggressive approach to the crypto industry, its case against Ripple is still ongoing after more than four years, unlike other dismissed lawsuits like those against Coinbase and Uniswap.
Is Ripple seeking a better settlement?
James Murphy, a lawyer known as MetaLawMan, believes that Ripple may try to convince the SEC to overturn some or all of Judge Torres’s rulings, particularly the $125 million fine that some saw as a victory compared to the SEC’s $2 billion penalty.
But Murphy noted that a conviction for violating certain laws could hurt Ripple’s reputation, especially if it plans to launch a future securities offering or initial public offering.
He added that the SEC could accept a settlement that includes dropping the appeal in exchange for paying the fine.
The case is more complicated than others:
Lawyer Jeremy Hogan likened the case between Ripple and the SEC to a complicated relationship, saying that Ripple and the SEC live together and have a child, referring to the legal entanglement of the case in contrast to the lawsuit against Coinbase, which was dropped more quickly.
Fox Business journalist Eleanor Terrett confirmed this idea, explaining that Ripple’s case is more complicated procedurally, since Judge Torres has already issued a fine, and can retain jurisdiction until August 7 to ensure compliance.
Amid these complexities, the question remains:
Will Ripple reach an acceptable settlement, or will the legal battle drag on for much longer?
