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Following today’s developments in the case between Ripple (XRP) and the SEC, there has been a significant change in the course of the case.
This evening, Ripple Chief Legal Officer Stuart Alderoty announced that after the SEC withdrew its objection to the case result, Ripple itself had also withdrawn its counter-objection and announced that it would return $75 million of the $125 million the SEC had obtained as a penalty.
Following this extremely positive development, important dates for the upcoming case between Ripple and the SEC have also changed.
As of today, we will wait for the SEC to vote on the final amendments. This vote is expected to take less than 30 days. After that, we will wait for the SEC to file a motion to vacate the preliminary injunction, which Ripple will not appeal. Judge Torres will sign it (less than 30 days from the filing of the petition).
In the current situation, the Ripple case will be officially and legally over within 60 days from today.
This case, which began even before SEC Chairman Gary Gensler, known as a crypto hater, was the main battleground between the crypto industry and regulators. Thus, the crypto industry will leave the litigation process with a very important victory.
*This is not investment advice.
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