Attorney John Deaton recently argued against the SEC’s action, explaining why Ripple may still choose to settle the case despite its eventual victory. Deaton claims that the legal fees connected with taking on the SEC might be too much for a small business like Ripple to handle.
Deaton said settling with the SEC is in Ripple’s best interest. Ripple would then be able to pursue its long-term goals and keep working on improving its payment system.
Despite Ripple’s best efforts, the SEC has been reluctant to negotiate a settlement. Ripple’s legal battles will continue for the foreseeable being, with Deaton maintaining optimism about a favorable outcome.
No of the decision, Ripple has a long road ahead of it. To realize its goals, the organization needs to earn the confidence of regulators, clients, and business associates.
Deaton thinks that the SEC settlement will assist Ripple in achieving its goals. By settling, Ripple can avoid a drawn-out legal struggle and the high expenditures that come with it.
In addition, if Ripple can settle with the SEC, it can extend its activities inside the United States. Ripple’s current biggest impediment is the SEC’s litigation, and resolving it might provide the business with new prospects.
Ripple is in a challenging position. Indeed, it will prevail in its fight against the SEC, but a protracted legal battle might become too costly and risky for the business to sustain. Therefore, it is possible that for Ripple, a settlement of the case is the best course of action.
The fight between Ripple (XRP) and the US SEC has been protracted and fraught. Brad Garlinghouse, CEO of Ripple, and Chris Larsen, co-founder of the company, have recently been in the news because the SEC has taken legal action against them.
The lawsuit claims that Ripple’s sale of XRP constitutes a violation of federal securities laws. Ripple has refuted the SEC’s charges, and the discovery process is underway.