Famous lawyer Stephen Palley comments on the US Securities and Exchange Commission’s (SEC) case against Ripple. Stephen Palley claims that the payments firm will settle with the regulator under the Ripple lawsuit.
Stephen Palley: Ripple wants the legal battle to end quickly
Renowned blockchain and crypto lawyer Stephen Palley said that Ripple’s swift response to the SEC complaint, payment attempt to speed up the legal battle He believes it shows that he wants it to end. Stephen Palley adds the following to his explanations on the subject:
I wouldn’t be surprised if they asked for 30 more days and then refused. But they didn’t. About a month later they responded. What does this mean? Unlike many of the defendants, they genuinely want disputes to be resolved quickly.
Stephen Palley: The SEC probably already has all the ‘bad’ documents and guns
He also says that he believes he has put his case completely. Stephen Palley adds to his comments on the bet:
Typically in civil litigation, you can’t get the other party’s papers until the case has progressed within a short period of time. Here the SEC probably received all the paperwork during the enforcement process, which is why the original complaint is so compliant. In other words, the SEC probably already owns all the ‘bad’ documents and weapons and has included them in the case.
Blockchain lawyer: XRP trading will be launched again on US exchanges!
Blockchain lawyer adds that Ripple may have a tough time arguing that its XRP sales should not be viewed as an “offer.” Once Ripple wins, Stephen Palley states that XRP trading will be resumed on exchanges in the US. Stephen Palley adds to his remarks on the bet:
The Ripple case should be resolved after the motion is executed, presumably with the knack of allowing trade to resume in the US. The SEC probably isn’t and shouldn’t be completely deaf when it comes to influencing US buyers (whatever they think of the company or its chief executives). As we previously reported as
Kriptokoin.com , the US Securities and Exchange Board (SEC) has officially filed a lawsuit against Ripple in the past months. As part of this lawsuit, the SEC accuses Ripple and the company’s CEO, Brad Garlinghouse, and co-founder Chris Larsen of selling $1.3 billion in unregistered securities via XRP.