Ripple-SEC affair: the two parties in talks

The legal battle between Ripple and the SEC over the security status of the XRP token is far from over, even after multiple partial victories. In an effort to end this 3-year battle, the court ordered both parties to consider a settlement and negotiate the terms of that settlement. To this end, both sides held several meetings. One of them takes place today.

A closed meeting to discuss the terms of the settlement

As part of the potential settlement between Ripple and the SEC, both parties will be required to hold a closed-door meeting. The latter falls within the framework of Sunshine Act meetings. The meeting scheduled for November 30 will allow the two sides to discuss a number of issues.

Among the topics expected to be discussed during this closed meeting are:

• the institution and regulation of administrative procedures,
• the institution and settlement of injunctive actions,
• questions related to the dispute,
• resolution of dispute requests.

Added to this are other questions related to examination and application procedures.

SEC demands $770 million from Ripple

First discussions of a settlement between Ripple and the SEC have emerged about a month ago. But even more interesting was the amount the regulator demanded. The SEC had demanded payment of a fine of $770 million in fines. A measure to which Ripple naturally opposed.

According to legal experts such as pro XRP lawyer John Deaton, Ripple will likely negotiate this figure lower. Certainly, there is no doubt that a fine must be paid as part of the settlement. But Deaton estimates that anything less than $20 million would be a total victory for Ripple. Pro XRP lawyer Jeremy Hogan also said that the crypto company would bring the settlement figure below $100 million.

In any case, crypto analysts agree on one point: Ripple and the SEC could reach a resolution by July 2024. By then, the settlement could therefore be concluded!