The US SEC vs Ripple Lawsuit will soon begin its crucial summary judgment proceeding to see where this case stands. In the meantime, John Deaton, Amicus Curiae in the lawsuit has laid out the possibility of the Watchdog striking a settlement agreement with the defendants.
Ripple lawsuit to end in a settlement?
Deaton in a Twitter Thread mentioned that he has maintained that the settlement in the Ripple Lawsuit depends on the SEC. It added that it also depends on the revelation of the Hinman speech drafts, emails, and other related documents.
He further added that rather than taking this route SEC is waiting for other events. If the commission receives a different decision than expected in the LBRY case then it can think about striking a settlement.
However, Deaton believes that there will be no settlement unless one or both of the mentioned event happens. He highlighted that he is an amicus in the Ripple lawsuit thus Deaton is in no better position to speculate on the matter.
Meanwhile, both parties have filed a joint proposal for the nearing Summary Judgement. SEC and Ripple are seeking the court’s approval over the sealing motion regarding pending adjudication yet to be filed.
XRP vs ETH
It is expected that the Summary judgment in the Ripple lawsuit might see a comparison between the XRP and ETH. However, the revelation of the Hinman speech document still holds the key to the case.
However, SEC Chair Gary Gensler is not willing to settle due to political risks. XRP lawyer added that until it outweighs political benefits, the commission is not going to do that. Meanwhile, he still believes that Gensler doesn’t have much to lose by not settling Ripple Lawsuit.
Deaton mentioned that if in any case, SEC wins Summary Judgment then it will give Gensler a validation. This will lead the commission to justify that they can regulate the crypto tokens.