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Ripple v. SEC: Law Veteran Thinks Settlement Is Unlikely, Here's Why

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Sun, 18/06/2023 - 13:16
Ripple v. SEC: Law Veteran Thinks Settlement Is Unlikely, Here's Why
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In a recent Twitter exchange, members of the XRP community sought insights from Marc Fagel, a former lawyer and SEC functionary, regarding the ongoing case between Ripple and the SEC. In particular, one of the community members questioned whether the watchdog would risk a trial against Ripple or opt for serious settlement talks, considering the potential ramifications for their broader crypto-related lawsuits against Binance and Coinbase.

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Fagel responded by stating that while a settlement would not establish legal precedent, it could potentially have significant implications. However, he expressed doubts about the likelihood of a settlement, noting that if one were to occur, it would probably have happened already. Fagel further mentioned that the impact of an injunction on future XRP sales remains a contentious issue.

Fagel's stance echoes his prior statements reported by U.Today, wherein he predicted an imminent ruling in the SEC's case against Ripple. He further noted that a recent unsealing order by Judge Torres implied that the court had already determined its forthcoming ruling.

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When asked if Judge Torres' decision to unseal certain documents suggested an intention to avoid a trial, Fagel refrained from making speculative assumptions. However, he pointed out that the unsealing of materials, such as the speech materials, which would typically emerge during a trial rather than in summary judgment, implies that some aspects of the case are likely to proceed to trial.

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