Ripple rules out any plans of settlement with the SEC, as the firm continues to proceed aggressively.
No Plans for Settlement
In a recent tweet financial analyst and journalist, Charles Gasparino wrote, Ripple’s legal team have told the finance media outlet Fox Business that that have no plans to settle the lawsuit with SEC, rather legal team is confident that they would be ae to show Chairman SEC Gary Gensler that:
“In pursuing the case is picking winners and losers in the crypto business to the detriment of innovation.“
BREAKING: @Ripple's legal team tell @FoxBusiness they have no plans to settle w @SEC_Enforcement over lawsuit on XRP, confident they can show @GaryGensler in pursuing the case is picking winners and losers in the #Crypto business to the detriment of innovation. Story developing
— Charles Gasparino (@CGasparino) September 17, 2021
Austerity in Ripple’s Attitude
Now that is something for the SEC to be wary and worry about. In Jan this year, when CEO Ripple Brad Garlinghouse was asked the similar question, whether the Ripple is considered any outside settlement with the SEC, he had replied, refraining from explicating any specifics, that they have tried and in the best interest of community, consumers and market they will continue to do it. This austerity statement is clearly explicating, and shows a shift in Ripple’s strategy.
Future of Crypto Regulation in the US
The assertiveness with which Ripple is going forward in the lawsuit is not for nothing. Rather, throughout the case proceedings, Ripple has emerged as the aggressor, pushing Fed Regulator on the back foot.
For the SEC, prospects do not look good at all. As, if Ripple continues to go with the same strategy, and makes SEC drop the lawsuit, it would certainly give the Fed regulator a bad name.
On the contrary for Ripple and the crypto community, as a whole, the prospects are looking pretty bright. As at the conclusion of the suit, the community will probably have a clear way forward as far as the regulation in the US is concerned.
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