It has been almost two years since the crypto company, Ripple and the Securities and Exchange Commission (SEC) have been fighting a battle in court. A trial deemed decisive for the future of the crypto industry, whose final decision is awaited. Until the court decides, Ripple wants to continue to believe that the outcome of the trial will be favorable to it.
Ripple hopes for a decision this year
The crypto community is keeping its breath alive in the two-year case between the American stock market policeman, the SEC, and the crypto company Ripple, accused of selling unregistered securities in the form of XRP tokens.
A decision on the case is expected in the coming months. Until then, Ripple wants to be reassuring. Indeed, the company indicated, in its activity report for the last quarter of 2022, that it is confident about the outcome of the lawsuit against the SEC.
“After two years of fighting this lawsuit and on behalf of the entire crypto industry and American innovation, Ripple is proud of its defense and feels more confident than ever as we await the decision of the judge. The timing of the decision is in the hands of the judge, but the company is hopeful of seeing a decision in 2023,” the company said.
What about rumors of a negotiation between the two parties?
The SEC lawsuit against Ripple has been high in suspense. One of them, perhaps the most decisive, came in September 2022. At the time, the SEC, the initiator of the lawsuit against Ripple, found itself with its back to the wall when the judge required him to provide Ripple’s attorney with the Hinman documents.
These texts are in fact a speech given by William Hinman, the former head of the SEC, during the Yahoo Finance All Markets Summit, which was held in June 2018. In particular, it would have declared that ether, the native token of the Ethereum blockchain, is not a security. A precedent deemed significant by Ripple in the context of the lawsuit, to which the SEC spared no effort to block access.
Faced with the court’s decision to make them accessible, the rumor of an amicable negotiation between the parties was circulating. An action that would have ended the legal battle between the SEC and Ripple, but so far there is no evidence that talks have been initiated.
Anyway, Brad Garlinghouse, the head of Ripple wants to be intransigent: “The only way for Ripple to make a deal, and I said this from the start, the only way for us to make a deal is for it to be clear that XRP is not a security going forward. »did he declare.
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