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An end to Ripple’s court case with the U.S. Securities and Exchange Commission (SEC) over allegedly selling XRP as an unregistered security is in sight as the two parties could settle the matter. This according to legal expert Jeremy Hogan who has been closely watching the lawsuit since its start in December 2020.
Hogan said on Twitter that with all cards on the table, the window to find an agreement and settle the case is opening up in the next months:
“Most likely settlement timeframe is from now until the end of November, because the cards will be on the table.”
The attorney elaborated that while the SEC did not consider XRP a security at least until it started its lawsuit against Ripple, how could the defendants know themselves.
Furthermore, Hogan called out the SEC for the necessity of the regulator to come out with clarity on what digital assets are considered securities.
“The SEC should be able to go down a list of the top 20 cryptocurrencies and tell us which are (and aren’t) securities. Why not? Why does it CHOOSE ambiguity? Isn’t it supposed to be protecting us from these projects that aren’t following the law?”