Legal expert James Murphy, known on X as MetaLawMan, has given his take on the XRP lawsuit and why the US Securities and Exchange Commission (SEC) and Ripple could be delaying in reaching a settlement. Crypto community members continue to anticipate an SEC Ripple settlement considering that the Commission has already dropped a number of high-profile crypto cases.
XRP Lawsuit: Why The SEC and Ripple May Have Yet To Settle
In an X post, while giving his take on the XRP lawsuit, MetaLawMan revealed his theory about the SEC’s “unexplained” delay in dismissing the Ripple case. The legal expert opined that the delay might not be from the SEC but Ripple, which could be negotiating hard to get the Commission to vacate some or all of Judge Analisa Torres’ decision.
The lawyer further remarked that the Torres decision was “unquestionably” great for XRP holders. However, he added that the court’s finding of securities laws violations and the injunction are not so great for Ripple, which could explain why the crypto firm is trying hard to get the SEC to vacate Torres’ decision.
Lawyer Fred Rispoli also recently commented on the delay in a SEC Ripple settlement in the XRP lawsuit. Unlike MetaLawMan, Rispoli suggested that the delay in the Ripple vs. SEC case is from the Commission as he opined that the acting Chair Mark Uyeda and Commissioner Hester Peirce may not want to take responsibility for modifying the $125 million penalty against Ripple.
Ripple May Be Negotiating Hard Because Of An IPO
MetaLawMan remarked that his theory on a delay in settling the XRP lawsuit is plausible especially if Ripple is considering a future exempt securities offering or Initial Public Offering (IPO).
He believes the SEC would have quickly accepted a settlement in which both sides withdrew their appeals and the crypto firm paid the $125 million penalty. This seems to be why he is convinced that Ripple is stalling and not the Commission, stating that it makes sense that the crypto firm could be negotiating for a better deal than that.
The legal expert had previously predicted that the SEC Ripple case could take longer to resolve than other crypto cases because of the complexity of negotiating a resolution. He noted that the Ripple case is the only live crypto case with a final judgment in place. However, MetaLawMan predicted that the case would conclude before April 16, the deadline for Ripple to file its brief in the appeal.
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