Former SEC Director Says Ruling In Ripple v. SEC Lawsuit Could Be In Days

June 19, 2023 11:14 am Comments

A former SEC director has just made an interesting prediction on when the Ripple v. SEC lawsuit will finally come to an end.

Marc Fagel who previously served as a Director at the SEC has predicted that a ruling will be handed out in the Ripple v. SEC within the next couple of days.

Fagel took to Twitter and wrote  off an idea of a possible settlement and stated “settlement wouldn’t be a legal precedent….. it seems like it would have happened already.”

He then tweeted that his guess is that a ruling will come in the next couple of days.

Take a look:

Check out what Crypto Potato reported:

According to Marc Fagel, an SEC veteran and former Director, a ruling in the case between the SEC and Ripple might be coming in days.

It seems that the case between the United States Securities and Exchange Commission (SEC) might soon be headed for trial.

The former Director of the SEC’s San Francisco Office, Marc Fagel, speculated on the matter on Twitter, saying that he thinks a ruling might be coming in a few days.

According to Fagel, a “settlement wouldn’t be a legal precedent.” However, he also argued that if there were a settlement to be had, “it seems like it would have happened already. He mentioned that “eve-of-trial” settlements are also not unusual, but the impact of an injunction on future XRP sales seems to be a sticking point.

In addition, he also said that his “guess is a ruling is coming within days.” Fagel mentioned that even if he’s wrong, there’s currently no basis for thinking that the delay of this case is because of anything “beyond the complexity of the case.”

My only point of reference is the recent unsealing order; that suggested to me that the Court had already determined what the ruling would be. […] I think the fact that she’s (judge Torres) unsealing materails that, if relevant at all, will only come out at trial rather than on SJ (i.e.the speech materials) suggests that at least some of this is headed for trial; beyond that is speculation.

Per U.Today:

In a recent Twitter exchange, members of the XRP community sought insights from Marc Fagel, a former lawyer and SEC functionary, regarding the ongoing case between Ripple and the SEC. In particular, one of the community members questioned whether the watchdog would risk a trial against Ripple or opt for serious settlement talks, considering the potential ramifications for their broader crypto-related lawsuits against Binance and Coinbase.

SEC Veteran Fagel responded by stating that while a settlement would not establish legal precedent, it could potentially have significant implications. However, he expressed doubts about the likelihood of a settlement, noting that if one were to occur, it would probably have happened already. Fagel further mentioned that the impact of an injunction on future XRP sales remains a contentious issue.

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