A new era has been entered in the long -standing legal struggle between Ripple Labs and the US Securities and the Stock Exchange Commission (SEC). The parties made a joint application to temporarily stop the appeal. This development is evaluated that a potential agreement can form the basis. If the relevant application is accepted, it is foreseen that the parties may focus on more comprehensive negotiations for reconciliation.
Long -term case has entered a new stage
The dispute between Ripple and SEC began in December 2020 with Ripple’s Ripple’s XRP token sales as indifferent securities. While the SEC argued that XRP should be subject to regulatory control as a securities, Ripple claimed that XRP was the currency and therefore remained out of the jurisdiction of SEC. This fundamental disagreement between the parties fired a wider debate on how to implement the regulations in the crypto currency market.
Although different interim decisions were taken in the years of years, the process continued without reaching a final solution. However, the request to suspend the appeal process presented now shows that both sides are open to non -lawsuits. The shared information reveals that Ripple and SEC have reached a “wife principle agreement .. This indicates that the basic points of dispute have been clarified to a certain extent.
Negotiations increased the possibility of an agreement
According to the petition submitted to the court, the suspension of the appeal process includes not only the main case, but also the allegations of Ripple CEO Brad Garlinghouse and the founding partner Chris Larsen. If the application is approved, the parties may have a more flexible attitude at the negotiation table instead of hardening their legal positions.
In a statement made by lawyer James and so on, it was stated that “the main issues were decided”. This means that an important threshold has been passed during the case process. On the other hand, this development is carefully monitored not only for the Ripple case, but also in terms of crypto money market regulations in general.
In the case of SEC’s previously carried out with the Gemini stock exchange, a similar decision was requested to have a temporary stop. This shows that SEC can follow a strategy open to agreement in some major crypto currency cases. The fact that a similar roadmap is being followed in the Ripple case may increase positive expectations in the market.
It is emphasized that the details of a possible agreement between the parties will be subject to the approval process of the SEC commission members. This reveals that time is necessary to gain official clarity, even if the agreement is reached.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
