Ripple Lawsuit Update: SEC Sources Hint at Settlement and Reduced Fine

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Andrew, who often discusses crypto, finance, and business in a latest X post shared that two SEC sources suggest that the Ripple case may be nearing its conclusion, with some key expectations.

XRP To Be Considered As A Commodity?

He noted that XRP is likely to be considered more seriously as a commodity, which would shift its legal standing and market treatment. Additionally, the fine Ripple faces could be significantly reduced, offering a much lighter penalty than initially anticipated. The new SEC leadership understands the significance of this case and that their decision will shape future cryptocurrency regulations.

Besides, the outcome of this case could have lasting implications for the entire crypto market, potentially reshaping how digital assets are regulated in the U.S.

Interestingly, attorney Fred Rispoli reacted to the post saying that while he doesn’t believe Andrew’s sources when they have negative things to say about XRP, but he does believe them when they are positive. “That’s not hypocrisy. It’s unbridled hope,” he quoted. 

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Injunction: The Major Hurdle

Furthermore, Crypto lawyer Bill Morgan reacted to Andrew’s post and remarked that while the first and third points make sense, the injunction is still a problem. While Judge Torres’ ruling suggests that XRP could be seen as a commodity, however the permanent injunction limits Ripple’s ability to sell XRP to U.S. institutions, which creates uncertainty around that aspect. 

Previously, FOX Business journalist Eleanor Terrett had also hinted that the Ripple lawsuit could be ending soon. This comes as the SEC works to freeze or end legal actions against other crypto companies like Coinbase, Binance, Uniswap, and Consensys.

Several crypto experts had reacted to the report. Crypto expert Yassin Mobarak, founder of Dizer Capital, had stated that Ripple probably doesn’t view the $125 million fine as a problem, as they could pay it easily. He emphasized that the injunction is a significant issue, preventing a resolution of the lawsuit. He believes Ripple is negotiating to have the injunction lifted, which currently blocks it from selling XRP to institutions.