Crypto

SEC Organizes Closed-Door Meet; Is Ripple vs SEC Settlement In The Works?

The United States Securities & Exchange (SEC) released a Sunshine Act Notice, according to which the agency is expected to participate in a closed-door meeting. While the other party’s identity is unknown, many believe the meeting will be with Ripple to discuss the ongoing lawsuit. 

The notice contains every detail of the meeting like the date & time, place, status & the matters to be discussed in the public. Interestingly, the subject matter consisted of 2 things that grabbed the attention of the XRPArmy!

The issues to be discussed include, ‘institution and settlement of injunctive actions’, & ‘institution and settlement of administrative proceedings,’ Hence raising the speculation of a settlement with Ripple.

Previously, Attorney Hogan, who follows the Ripple vs SEC case closely, decoded all recent developments. According to him, the summary judgment could be issued on or before November 15th, as the briefing is expected to be completed by then. 

As a result, while the judgment is in the works, the chances of a settlement are low. Ripple previously stated that the company will proceed with the settlement only after the allegations about XRP being security are withdrawn, which the SEC may not agree to. 

Therefore, the closed-door meeting of the SEC could have some other agenda. But if it has something to do with Ripple, then it may be just like the icing on the cake. 

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