The end of the momentous SEC Ripple lawsuit ends in April 2022.
SEC Ripple lawsuit should be closed by April
It has been more than a year since the SEC filed a lawsuit against Ripple and analysts have begun forecasting the close date.
Recently, Jeremy Hogan, a well-known attorney in the XRP community, noted that there is a small chance the lawsuit will continue this past summer. As he said, April is the best guess for the lawsuit to reach its fate.
In an interview with CNBC, CEO Ripple Brad Garlinghouse had also indicated that the lawsuit could be closed by the end of 2022.
In particular, the preliminary investigation, which should be completed by January 14th, will probably take a little longer. As in a joint filing, the SEC and Ripple have asked the court to reschedule the date to January 19. The date has already been postponed several times.
Effects on the market
Regardless of the time it takes the process to complete, it is safe to say that the results will have far-reaching implications across the spectrum.
The party that emerges victorious is affirmed, and the party that loses is tainted forever.
If the SEC succeeds with the lawsuit, it will give the regulator permission to handle the crypto the way it wants, while it would have devastating effects on Ripple.
On the contrary, if Ripple wins the lawsuit, it would carry the company’s unprecedented returns, both financially and legally, and the SEC would be constrained. The agency would certainly lose the power to oversee the cryptocurrency, let alone regulate the market.
A short story
The US securities regulator SEC filed a lawsuit against Ripple in December 2020. The lawsuit accused the defendants (Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen) of failing to register XRPs with the relevant authorities despite the fact that the $ 1.38 billion worth of XRPs were sold under a securities contract.