PiCK
"Ripple/SEC lawsuit, a crucial turning point on the 16th… Settlement or re-appeal at the crossroads"
Summary
- It has been reported that the lawsuit between Ripple and the SEC is expected to enter a critical phase on the 16th.
- If both parties fail to reach a settlement, the procedures for appeal and cross-appeal may automatically resume.
- The SEC is required to submit an official report on the progress of the settlement to the court by the 16th.
The legal dispute between Ripple and the United States Securities and Exchange Commission (SEC) may enter a critical phase starting on the 16th (local time), according to recent outlooks.
According to the crypto-specialized media outlet CryptoPolitan on the 5th, pro-Ripple attorney Bill Morgan claimed, "A definitive conclusion must be reached in the lawsuit between the two parties by the 16th."
Previously, the United States Court of Appeals suspended the case for 60 days on April 15th at the request of both sides, which has been interpreted as an indication that both parties are open to negotiation and possible settlement. Additionally, the SEC is required to submit an official report on the progress of the settlement to the United States court by the 16th.
Attorney Morgan explained, "If no report is submitted or no substantial progress is recognized, the appeal and cross-appeal processes will automatically resume, and Ripple will also have to respond in writing to the court."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
