Lawyer Bill Morgan denies XRP lawsuit settlement predictions, stating that the upcoming SEC meeting will focus on administrative proceedings.
Ripple XRP Case Update: The ongoing Ripple case has been the subject of speculation as a result of the U.S. Securities and Exchange Commission (SEC) rescheduling a confidential meeting.
Although some members of the crypto community perceived this as a potential indicator of progress in the ongoing legal dispute, Bill Morgan, a prominent XRP lawyer, has promptly refuted such assumptions.
XRP Lawyer Dispels Speculation Over Upcoming SEC Meeting
The U.S. Securities and Exchange Commission (SEC) has scheduled a closed meeting for Thursday, July 25, 2015, as opposed to July 18.
Within the cryptocurrency community, this announcement has prompted speculation, particularly among those who are monitoring the ongoing case.
The SEC’s publication highlighted three primary topics for the closed meeting: the institution and settlement of administrative proceedings, the resolution of litigation claims, and other matters related to examinations and enforcement proceedings.
Some individuals have questioned the significance of the first item in the announcement, which pertains to the “settlement of administrative proceedings.”
Bill Morgan, a lawyer, addressed the speculation surrounding this meeting regarding the new Ripple XRP case update.
Despite rising conjecture that this could signal the conclusion of the long-standing case, Morgan firmly stated that the meeting “Doesn’t apply to Ripple v SEC.”
In the Ripple case, which has been ongoing since December 2020, the crypto community has been intently monitoring any developments.
However, Morgan’s statement seems to negate the prospects of a resolution to the high-profile legal dispute at this specific SEC meeting.
This case is not the first to dismiss speculation regarding the settlement of the Ripple lawsuit.
Marc Fagel, a former counsel for the Securities and Exchange Commission, has previously addressed such rumors.
He has maintained his position that neither party is presently in the process of negotiating a settlement.
Conversely, both parties are expecting the district court’s ruling in the remedies phase of the pending case.
The cryptocurrency market remains vigilant for any potential effects on XRP and the broader digital asset landscape as the rescheduled meeting approaches.
While the case continues to unfold, the SEC’s actions remain under scrutiny, despite the dismissal of a critical legal figure in the XRP community.
Ripple XRP Case Nears Resolution
Brad Garlinghouse, the CEO of Ripple, has expressed optimism regarding a resolution to the protracted SEC case.
The SEC’s assertion that XRP is a security, which opposes them and a significant portion of the crypto community, is the focal point of the legal dispute, which commenced in December 2020.
Garlinghouse observed that, while a judge’s ruling last year provided clarity on certain aspects, the final remaining issue is the sale of investment contracts to institutions.
In 2023, they achieved a partial victory, which is expected to have significant repercussions on the way in which regulators view crypto assets.
