After such a long time, many XRP holders are optimistic that the United States Securities and Exchange Commission (SEC) may choose a settlement in its lawsuit against Ripple Labs to bring the case to a close.
A Twitter poll which was posted by John E. Deaton, the pro-XRP attorney, shows how much XRP holders are rooting for such a push.
According to the tweet poll, almost 60% of the over 18,000 respondents voted for SEC out-of-court settlement, while the other thinks the regulator will go to verdict in a court hearing come 2023.
Ripple’s issue with the SEC started in December 2020 exactly two years ago. The regulator filed a lawsuit against Ripple Labs and its executives for the sales of XRP which was an unregistered security. In defense, Ripple made several arguments stating that the regulator had never mentioned that XRP qualifies as securities, much less an unregistered one.
These arguments have taken both parties in and out of court severally. At a point, the SEC and Ripple agreed to a summary judgment on the XRP lawsuit as they cited that Analisa Torres, the presiding judge over the lawsuit, had enough documents and information at her disposal to make a verdict.
So, it’s either she made a ruling or dismissed the lawsuit altogether. At the time, Defense Attorney James Filan said he did not expect such a request from both parties until September 19th.
In a bid to draw the lawsuit to a close, U.S. District Judge Analisa Torres approved several amicus briefs in connection to the lawsuit.
Some of such amicus briefs were from Coinbase, Reaper Financial, Accredify Inc (DBA InvestReady), New Sports Economy Institute (NSEI), Blockchain Association (the Association), Crypto Council for Innovation (CCI), Attorney John Deaton, Valhil Capital, Cryptillian Payment Systems, and VeriDAO LLC.
Markedly, some of them were in support of the U.S. regulator but a majority were backing XRP and its holders.
Ordinarily, the result of the recent tweet poll is not enough to boost the confidence of XRP holders; however, they believe that Ripple has the SEC exactly where it wants after the submission of the William Hinman document.
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