Amidst the lawsuit that has been going on between Ripple and the United States Securities and Exchange Commission, there has been a massive revelation. The legal team of Ripple claimed that it did not have any plans to make settlements with the watchdog of securities. In addition to that, Ripple is supremely confident that the Chairman of SEC, whose name is Gary Gensler, will end up realizing that this case is a lost cause for the commission. Because of all of this, the legal team of Ripple claims that it has no plans to settle despite a great deal of pressure involved.
The legal team of this crypto exchange appeared in an interview on Fox Business, which was seen by thousands upon thousands of crypto enthusiasts. They claimed that Ripple does not have any plans for settling the lawsuit set against the United States Securities and Exchange Commission. One of the main reasons why Ripple does not plan to settle is that it is confident that they will be winning the case eventually and that it is just a matter of time.
For those who don’t know, the Securities and Exchange Commission claimed that the co-founder and CEO of ripple labs were selling XRP, which is why they got sued. As you would expect, everybody in the crypto community was incredibly surprised by this and did not see it coming for a million miles. Needless to say, the SEC did end up suing XRP and experts predict that it could go either way. That being said, the procedure could take an incredible amount of time and we may not get to see a clear winner anytime soon.
For those who are wondering, cases like these have occurred before in the past but this one is quite different. In addition to that, the stakes are incredibly high so there is a great deal of interest involved. The supporters of Ripple, have been particularly vocal about the entire ordeal and want things to come back to normal sooner rather than later. However, judging by how things have been going so far between the two, it would be fair to say that this is a long shot.
Some people have also wondered if the lawsuit would end up in a no contest, but that does not seem likely. Judging by how things have been going so far, it would be fair to say that there will be a definite conclusion to this case. In the mean time, people are continuing to trade and invest in Ripple despite the lawsuit and it seems like things will continue to be this way.