The global coin market has now come across a major turn, from where the destiny still looks far from reach. The disappointing update to the fraternity comes following the release of documents. This revolves around Ripple vs SEC lawsuit, which has been a major hiccup for the firm and the broader community.
Successively the documents hint at Ripple’s lawsuit ending sometime between the 26th of August and the 18th of November. Conversely, Ripple CEO in a recent interview says the SEC has a difficult argument to make in the legal tussle.
Another Year Of Ripple’s Hardships?
Attorney Jeremy Hogan in a social post enlightens the community over a court order. The advocate cites that. The defendants think that the case will end sometime between the 26th of August and the 18th of November. Further citing, in its pending class action, Ripple agreed to move the case start back to 18th November. In the belief that the SEC case will end by then.
The possible delay is in line with the attorney’s previous predictions, which was around September. Jeremy Hogan further wrote that he now feels more confident in his September prediction. The class action could be pushed by “collateral estoppel”. Which is a trump card that protects a party from re-litigating an issue that has seen a resolution in the past.
Conversely, Ripple CEO Brad Garlinghouse says the U.S SEC has a difficult argument. To make in its case against the blockchain firm. Which has been evident in numerous instances in the past. Previously, we have seen Garlinghouse mentioning that in his meeting with the commissioners. No one once said that they think XRP is a security.
Summing up, the stance of Ripple CEO and the entire team has been reinforcing the strength of the community. The growing awareness comes in from social media, mainstream news broadcasting channels. Has been fueling the optimism in the community. While a settlement between Ripple and the SEC looks distant. Things can turn around at any given time.
Written by: Qadir AK
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