The special meeting announced by the Securities and Exchange Commission (SEC) adds further intrigue to the Ripple case, as the XRP community awaits a resolution.
In a recent development, the SEC disclosed a meeting scheduled for Thursday, November 30th. The agenda includes undisclosed important topics such as disciplinary proceedings and settlements, administrative actions, and resolution of lawsuits, claims, and other matters related to investigations and enforcement proceedings.
While the official announcement by the SEC refrains from naming specific details, discussions surrounding the potential settlement of the ongoing lawsuits in the so-called “XRP case” have intensified due to the secretive nature of the upcoming meeting, with a focus on the discovery phase.
Last week, chinwa.tech reported on the current status of the legal battle. Key dates have been set, with both Ripple and the SEC required to complete their discovery related to remedies by February 12, 2024. Following this, the SEC has until mid-March to provide summaries outlining the remedies they seek, and Ripple will have a month to raise any objections. Before the judge can rule on any remedies, the SEC will be given a final opportunity to respond to Ripple’s opposition by the last week of April.
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A stumbling block of $770 million fine remains contentious. Imposed on Ripple on July 13, it represents a significant breakthrough in the case. While top legal experts in the cryptocurrency field anticipate a reduction in the final figure, the road to settlement is expected to be challenging, with complex discussions and negotiations.
Against this backdrop, investors eagerly await the results of the special meeting of the Securities and Exchange Commission committee, which could pave the way for a resolution to the Ripple case, impacting XRP’s future trajectory in the cryptocurrency market.
Disclaimer: The information provided is not financial advice. Chinwa.tech does not take any responsibility for investments made based on the information provided in this article. We recommend consulting a qualified specialist or financial advisor before making any investment decisions.