In a recent development, the U.S. Securities and Exchange Commission (SEC) has taken a significant step in the ongoing legal battle with Ripple. The regulatory body has formally requested court approval for an appeal, a move that could potentially put the entire case on hold until a final decision is reached.
The XRP community has been engaged in a lively debate since this news emerged. A prominent supporter took to social media to directly question Marc Fagel, a former SEC regional director, who specializes in securities law enforcement. The digital asset enthusiast raised questions about whether it could be in the SEC's interest to avoid trial testimony from former officials, William Hinman and Jay Clayton, who are alleged by some in the community to have been involved in a pro-Ethereum conspiracy against XRP and Ripple.
In response, the expert shared his perspective, noting that if the SEC is interested in a settlement, it would likely stem from the perceived high risks associated with the remaining claims against individuals involved in the case. He also downplayed the significance of testimony from former SEC officials in influencing this decision.
By individual claims, the expert apparently means SEC claims against Ripple executives, CEO Brad Garlinghouse and cofounder Chris Larsen. While this legal drama continues to evolve, it is important to note that hearings on the matter are not scheduled to begin until at least April 20, 2024, according to sources cited by U.Today.
Dan Burgin
U.Today Editorial Team
