Is the Ripple v. SEC Lawsuit Over? This Former White House Official Thinks so

TL;DR

• While Anthony Scaramucci claims the Ripple lawsuit is over, no official confirmation exists, with experts predicting a settlement.
• US attorney James Murphy suggests the company is negotiating to vacate Judge Torres’ rulings, which might explain why the case remains ongoing.

The End of the Battle?

A lot has happened in the cryptocurrency space since Donald Trump became America’s 47th President. Some of the major developments are centered on the legal saga between the US Securities and Exchange Commission (SEC) and certain digital asset entities. 

The agency, whose former anti-crypto Chairman Gary Gensler resigned on January 20, was succeeded by Mark Uyeda (who has an entirely different stance on the matter). Under his leadership, it dismissed its lawsuits against Coinbase, Kraken, Uniswap, and more.

In a recent interview, former White House official Anthony Scaramucci claimed that the legal tussle between the SEC and Ripple is also over. The host of the conversation, Scott Melker (known as The Wolf of All Streets), agreed with this assumption. 

Despite Scaramucci’s viewpoint, there is no official information that the lawsuit has finally reached its conclusion. It has been ongoing for more than four years, with some legal experts describing it as totally different from the aforementioned cases. 

US attorney Jeremy Hogan recently predicted that the battle would most likely be resolved after a settlement rather than a dismissal.

“The SEC broke up with Coinbase after a couple dates. Ripple and the SEC live together and have a baby,” he opined. 

The Fox Business journalist Eleanor Terrett shared a similar thesis, outlining that Judge Torres has already ordered a $125 million penalty on the firm for violating certain rules. 

Negotiations for a Better Deal

The American lawyer James Murphy also chipped in lately. He suggested that the lawsuit remains unsolved because Ripple might be “trying hard to get the SEC to agree to vacate some or all of Judge Torres’ decisions.” 

He agreed that the $125 million fine is “great” for Ripple and the XRP Army since it represents just a fraction of the $2 billion the SEC initially requested.

On the other hand, Murphy maintained that the findings that the company has breached some laws “is not great” for its reputation.

“This is particularly true if Ripple is considering a future exempt securities offering or IPO. I believe the SEC would have accepted a settlement – where both sides dismiss their appeals and the SEC takes the $125 million penalty – in a heartbeat,” the expert added.