- Crypto enthusiasts believe Ripple may win a favorable judgment in its legal case.
- Previously, XRP filed a 65-page document, marking the final submission in the lawsuit.
- SEC claims Ripple raised over $1.3B via an unregistered digital asset offering.
The crypto community is wondering whether the multi-year legal battle between the Ripple (XRP) blockchain and the Securities and Exchange Commission (SEC) of the United States will settle coming 2023.
John E Deaton, a blockchain lawyer, created a poll asking the community whether the case would ‘Settle’ or ‘Go Verdict.’ Of the total vote cast, 60% of the respondents believe that the legal tussle would resolve. However, it is not clear in whose favor it could be.
In the last 730 days, the two parties have had multiple court sessions. The bone of contention was that the regulator accused Ripple of raising over $1.3 billion through an unregistered digital asset securities offering.
Yassin Mobarak, the founder of Dizercapital.com, said the courts need to decide the security issue of digital assets, even if it means the SEC can’t go after other crypto projects based on an adverse ruling.
Early this month, Ripple filed a 65-page redacted reply to the SEC’s opposition to its motion for summary judgment. According to Ripples’s General Counsel, Stuart Alderoty, the filing marks the ultimate submission of the blockchain payments company in its legal battle with the SEC. Therefore, what remains is the final ruling from the court favoring Ripple.
Lawyer Alderoty added:
“After two long years, Ripple is proud of the defense we’ve mounted on behalf of the entire crypto industry. We have always played it straight with the Court. Can’t say the same for our adversary.”
Recently, XRP flipped Binance USD (BUSD) to reclaim the 6th largest market cap coin position.