Speculation Arises: Ripple and SEC Possibly Nearing Settlement Agreement
Expert hints at potential end to Ripple-SEC legal battle, citing key indicators and speculation of settlement. Confirmation awaits official statements.
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Expert hints at potential end to Ripple-SEC legal battle, citing key indicators and speculation of settlement. Confirmation awaits official statements.
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The SEC accused Quantstamp of offering its QSP tokens as an investment opportunity without registering the ICO as a securities offering. As part of the settlement, Quantstamp has established a "Fair Fund" to compensate investors who were affected by the unregistered ICO. The company will transfer its QSP token holdings to the administrator of the Fair Fund, where the tokens will be permanently disabled or destroyed.
According to Marc Fagel, an SEC veteran and former Director, a ruling in the case between the SEC and Ripple might be coming in days.
If the regulator is successful in this case, it might have very negative repercussions for XRP, its investors, and the cryptocurrency sector as a whole.
In the ongoing legal case between the SEC and Ripple Labs, the commission declared XRP as a security.
The U.S. Securities and Exchange Commission and Ripple Labs both filed motions for summary judgment.
As the case against Ripple rages on, the SEC wants to see certain “friends of the court” in support of Ripple be barred from providing legal aid to the defense.