SEC Sunshine Act Meeting: Will Ripple Lawsuit Come to a Close?

May 4, 2021 at 02:50 AM GST updated: May 12, 2021 at 01:49 AM 1 min read Altcoin News

The US SEC will hold a closed-door meeting on May 6.
According to a document, the SEC will discuss resolution of litigation claims.
The crypto community believes that the Ripple lawsuit is part of the discussion.

The US Securities and Exchange Commission (SEC) is about to hold a closed-door meeting on May 6 to tackle various topics. Interestingly, many in the crypto community believe that the Ripple lawsuit settlement is not out of the window.

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According to an official document, the meeting, named Sunshine Act, will discuss the following topics:

Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings;
Resolution of litigation claims; and
Other matters relating to examinations and enforcement proceedings.

While the meeting did not mention anything specific to the Ripple lawsuit, others strongly assert that the said topic will be part of the agenda. In fact, Twitter user CRYPTOWZRD thinks that those who believe so otherwise are “naive”.

You would be naive to think that a the litigation against Ripple Labs won’t be a topic of discussion, the result of which only the future can tell. However, given the position the SEC have put themselves in, one would think a large settlement would be beneficial to both parties..
— CRYPTOWZRD (@cryptoWZRD_) May 2, 2021

As stated in the agenda of the meeting, the SEC aims to resolve litigation claims. Given that the Ripple lawsuit is one of the most popular cases wherein SEC is involved right now, many believe that the SEC is under pressure to close the issue.

Recently, both the SEC and Ripple took jabs at each other, with no clear winner to be perceived yet. Nevertheless, the crypto community will have to wait whether a settlement will be on the table this May.

At the time of writing, XRP price is at $1.58, according to CoinGecko.

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