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Highlights
- Lawyer Fred Rispoli dismisses the SEC's delay in the XRP lawsuit settlement as not a big issue.
- The lawyer lists the possible ways in which an imminent resolution could happen.
- Rispoli sees filing a joint motion to vacate the judgment as the cleanest way to conclusion.
As the crypto community holds its breath, anticipation is building around the imminent settlement of the XRP lawsuit. Recent insights from legal expert Fred Rispoli suggest that the resolution may be closer than expected. As the market eagerly awaits the resolution of the Ripple-SEC case, Rispoli’s comments have sparked widespread speculation regarding the potential outcomes.
XRP Lawsuit: Why the SEC’s Delay Isn’t a Pivotal Issue?
Lawyer Fred Rispoli is downplaying the role of the US Securities and Exchange Commission’s (SEC) delay in resolving the XRP lawsuit. Despite many considering the delay a major obstacle, Rispoli believes the case’s resolution is simpler than anticipated. Rispoli stated, “I just don’t see this being the big issue some are making it out to be…it’s unorthodox, but not difficult.”
Significantly, Rispoli’s comments suggest that the SEC’s delay may not be a critical factor in the XRP lawsuit as many believe. He urges the community to shift the focus from the delay to the potential outcomes and implications of the lawsuit’s resolution.
Previously, Rispoli dismissed discussions surrounding the SEC’s delay, deeming them unnecessary. He also addressed the SEC’s excuses as cowardly.
Key Considerations Regarding Torres’ Order: Lawyer’s Insights
According to lawyer Fred Rispoli, the delay in the Ripple-SEC case isn’t a significant issue. This sentiment is echoed in his statement that the SEC will handle Judge Torres’ enforcement order, not the judge herself.
In addition, Rispoli shared insights on the Ripple and SEC’s possible move to jointly file a motion to vacate the judgment. The lawyer deems this as the “cleanest way” to dismiss the XRP lawsuit. This approach involves the SEC and Ripple agreeing to vacate the judgment in exchange for Ripple dropping its appeal.
Recently, an XRP advocacy platform, All Things XRP, shared five possible outcomes of the Ripple lawsuit. The potential outcomes include withdrawal of the SEC’s appeal, reduction of Ripple’s penalty, reversal of the court decision, lifting of the injunction, and complete closure of the case by the SEC.
SEC’s Flexibility in Resolving Ripple Case
Further, Rispoli shed light on the SEC’s flexibility to resolve the XRP lawsuit without vacating the order. The regulator can bypass vacating the order by drafting a settlement agreement with Ripple, agreeing not to enforce the judgment in exchange for Ripple dropping its appeal.
Interestingly, the SEC Enforcement Manual prioritizes cooperation and settlement over litigation. This provides a framework for the regulator’s actions. However, the agency has historically exercised its discretion, sometimes bypassing due process. In this case, the agency’s flexibility could facilitate a fair outcome for the Ripple lawsuit, stated Rispoli.
Rispoli’s comment comes in response to Fox Business journalist Eleanor Terrett’s report on an imminent XRP lawsuit settlement.
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