XRP enthusiasts are closely monitoring an upcoming closed-door meeting by the U.S. Securities and Exchange Commission (SEC). The anticipation is primarily centered around the possibility of a settlement in the long-standing legal battle between the SEC and Ripple.
SEC’s Closed-Door Meeting
The SEC’s closed-door meeting for November 30, 2023, at 2:15 PM, which can be attended remotely or at the commission’s headquarters in Washington, D.C.
Meanwhile, the key figures, including top SEC commissioners, counsels, secretaries, and essential staff, are expected to participate. The focal points of discussion will revolve around settling injunctive actions and administrative proceedings.
With these critical discussion points, the XRP community is hopeful that the SEC might contemplate reaching a settlement with Ripple to bring an end to the protracted legal battle.
However, influential figures like Amelie, a prominent XRP influencer, share this expectation, as echoed by other enthusiasts in the comment section.
Potential Settlement Talks
While the legal battle between the SEC and Ripple has been a protracted one. In a significant development earlier this year, the court ruled that XRP and most Ripple transactions do not qualify as securities. However, the court deemed Ripple’s past sales to institutional clients as investment contracts.
Now, the court is figuring out the penalties for Ripple’s past sales. After this, there’s a chance the SEC might challenge the court’s decision on Ripple’s other sales. Despite the court denying the SEC’s initial attempt to appeal, it may reconsider after the remedies proceeding. Thereafter, the SEC will have a full right to appeal the court’s July 13 decision.
However, given the SEC’s scheduled closed-door meeting discussing settlements, there is a likelihood of the regulator exploring resolutions in its ongoing litigations with Ripple.
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