Stuart Alderoty, Ripple’s Chief Legal Officer, recently addressed the outcome of the long-running XRP lawsuit in an interview. The court’s ruling, which put an end to this prolonged legal battle, mandated Ripple to pay $125 million for violations of securities laws related to institutional XRP sales. The SEC sees this ruling as a victory, although it is significantly lower than the regulator’s initial $1.95 billion request.
Alderoty emphasized Ripple’s focus on the finality of this ruling, stating, “If the SEC is a rational actor and this administration truly is serious about hitting the reset button on their war on crypto, there should be no appeal and everybody should be moving on.”
This sentiment has not gone unnoticed within the XRP community. Alderoty’s comments prompted a question from a community member, who asked notable pro-crypto lawyer Fred Rispoli if a potential settlement was on the horizon for both parties.
He noted a shift in the tone of communications from both Ripple and the SEC, highlighting that the language has become more measured and respectful compared to previous exchanges. He also noted the absence of SEC Chair Gary Gensler from recent discussions as a reason for speculation about behind-the-scenes negotiations.
What’s Next for the SEC and Ripple?
Fred Rispoli responded to the inquiry, stating, “Sounds clear Ripple will only cross-appeal if the SEC appeals first, and the SEC has also not used ‘appeal’ language.” This observation suggests Ripple’s desire to move on. In the interview, Alderoty emphasized Ripple’s desire to move on, stating that the company wants to focus on growing its business domestically in the U.S. and globally.
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Rispoli also highlighted Alderoty’s consistent use of the term “historic” when referencing Ripple’s sales. He interprets this as a strategic signal from Ripple, indicating their belief that current and future XRP sales no longer fall within the purview of securities classification.
The perception is that the softened rhetoric and strategic language choices from both parties might be indicative of a shared desire to move forward. Both parties believe the ruling favored them, and many experts believe the chances of an appeal are low.
With the voices of the crypto community becoming increasingly prominent as the U.S. heads toward a historic election in November, moving forward might serve the current administration favorably if they hope to appeal to and gain the votes of the crypto community.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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