20 Jan

Ripple Settlement with SEC Possible if Documents are Sealed, CryptoLaw Founder Says

• John Deaton, the founder of CryptoLaw, has revealed that a settlement between Ripple and the SEC could be possible if there is an agreement to seal sensitive documents.
• Deaton adds that, even with a settlement, documents may still get unsealed by other defendants the SEC will face, as well as FOIA litigations.
• He was responding to a community member’s inquiry as to whether there is any chance that Judge Analisa Torres would rule on the Ripple and SEC’s sealing disputes soon.

John Deaton, the founder of CryptoLaw, recently revealed that a settlement between Ripple and the SEC could be possible if there is an agreement to seal sensitive documents. This revelation comes after the SEC filed a lawsuit against Ripple in late December 2020, accusing the company of conducting an unregistered securities sale and other violations.

The XRP Ledger blockchain enthusiast stated in a tweet that if there is a settlement, it would include an agreement to not disclose any documents received during the litigation of the case. Deaton adds that, even with a settlement, documents may still get unsealed by other defendants the SEC will face, as well as FOIA litigations. He was responding to a community member’s inquiry as to whether there is any chance that Judge Analisa Torres would rule on the Ripple and SEC’s sealing disputes soon. Particularly, the question highlighted the Bill Hinman email documents.

The case has gone on for months with no resolution in sight, as both parties have yet to agree on the terms of a settlement. However, Deaton believes that a settlement could be reached if the judge grants an agreement to seal the documents. This could potentially bring an end to the case, allowing Ripple to move on with its business activities and allowing the XRP market to breathe a sigh of relief.

It remains to be seen whether Judge Analisa Torres will approve the agreement proposed by Deaton. If she does, a Ripple settlement with the SEC could be very close. It could potentially mean the end of the long-running legal battle, and could open the door to a brighter future for the XRP market.