Legal experts have responded to Andrew Parish, co-founder of Arch Public, and suggest that the SEC lawsuit against Ripple may be approaching its conclusion.
Andrew made a bold claim today, highlighting what he learned about development from two sources that were well-versed in the issue.
Expected results
The popular code diagram highlighted three expected results from the impending resolution of the Ripple case.
XRP took into consideration the product
According to him, the resolution would seriously consider XRP a product and could potentially affect how it will be regulated in the future. This represents a major shift from the committee’s initial claim on XRP.
Remember that the SEC first labelled XRP as security in December 2020 when it filed a lawsuit against Ripple. Regulators alleged that Ripple sold XRP as security to US investors without registering it as security.
However, the federal court has pushed back the SEC’s XRP classification and declared that the coin itself is not security. Interestingly, the SEC did not challenge the court’s findings regarding XRP’s non-security status in appeals to the verdict.
Reduced fines
Second, Andrew proposed accepting a fine that had a significantly reduced SEC compared to the amount the judge imposed on Ripple. In August 2024, Judge Analisa Torres held that Ripple had violated federal securities laws by implementing an illegal institutional sale of XRP and imposing a $125 million fine and a permanent injunction.
Andrew’s comments suggest that Ripple will pay a significantly lower fine for this violation, not the $125 million judge who ordered Torres.
Legal precedents of cryptographic cases
Finally, Andrew suggested that the handling of the SEC’s new leadership Ripple case could set a major precedent for crypto-related cases through future resolutions. As a result, securities regulators may want to carefully handle litigation resolutions.
Lawyer Deaton and Rispoli react
Andrew mentions that he doesn’t like XRP and has not made any positive comments about the coins these days. He often called on his followers to sell XRP for Bitcoin. Bitcoin Maxi also insisted on the inclusion of coins in US crypto sanctuaries.
Given his stance on XRP, the recent proposal is approaching the response that Ripple case has sparked an imminent solution among XRP supporters, with top legal experts John Deaton and Fred Rispoli responding to disclosures.
Attorney Deaton cites tweets with eye emojis and asks that its importance will attract the attention of the broader XRP community.
Similarly, lawyer Fred Rispoli emphasized that he tends to believe Andrew’s report on XRP when he is positive. This seems to be due to the fact that Bitcoin Maxi is forced to mention something positive around Altcoin only if it believes it is true.
Rispoli suggested that this selective trust is not hypocritical, but rather an infinite manifestation of hope.
Will the Ripple Case be finished soon?
Meanwhile, several reports suggest that the Ripple lawsuit is approaching conclusions. Crypto America host Eleanor Terrett shared similar sentiments last week. Pro-cryptic journalists highlighted the August verdict as a major factor in delaying the resolution of the lawsuit.
According to her, Ripple has negotiated with the SEC to completely dismiss the permanent injunction. The company argues that penalty is unfair to be punished based on the ruling, especially given the SEC’s recent decision to dismiss several crypto-related cases.
In addition to speculation, no party has issued a public statement regarding the ongoing settlement debate.
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