Crypto expert Ashley Prosper anticipates a finale to the Ripple versus SEC lawsuit from July to September 2024. The determination, hinging on Judge Torres’ decision and SEC’s response during the Remedies phase, may develop a new paradigm for regulating future digital assets.
The SEC’s confidential input in the Remedies phase is expected by May 6, 2024. Following privately deliberated redactions by Ripple and the SEC, the public release is scheduled for May 8. Ripple and the SEC will further negotiate the implications of the final decision during this period. The SEC’s resolution, having substantial weight, could define not only Ripple’s case but also guide future digital asset regulations.
Depending on the SEC’s response, Judge Analisa Torres might announce the conclusion between July and September 2024. The court’s decision, subject to a likely challenge by either ripple or the SEC, might see the case escalated to the Second Circuit.
Anticipated Ripple lawsuit closure in 2024
This progress would dramatically extend the lawsuit’s resolution till 2026, according to legal specialists.
Interestingly, Ashley Prosper doesn’t see the appeals process as a roadblock; instead, he predicts a settlement at any point in the duration of the appeal procedure. He also foresees an early resolution prior to a court hearing or an agreement approved mutually. Prosper’s insights suggest that settlement discussions might reap benefits at any stage, with or without court involvement.
Since the lawsuit’s inception in December 2020, rumors of a sudden resolution between Ripple and the SEC have persisted. Despite ongoing conjectures and the significant uncertainties the lawsuit introduces to the crypto market, a clear resolution doesn’t seem imminent. Currently, the parties seem inclined towards litigation, unless an unexpected compromise surges.
Ripple expresses its openness to a settlement provided XRP is officially declared a non-security, a proposition the SEC has so far declined. A next move from the SEC is highly anticipated, generating great interest from all sections as it could push the lawsuit towards its end. Meanwhile, the prospect of an appeal to the Second Circuit following Judge Torres’ final verdict only adds to the prevailing uncertainty.
