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This meant that they could use important testimony in court. When Ripple has this victory under its belt, it can go to court with pretty much all of the evidence it wants to use.

XRP holders' lawyer John Deaton says that the lawsuit will come to an end in August, and he thinks it will. During a statement, he said that the lawsuit would most likely end with a decision rather than a settlement. This is what he said: This is in line with how both sides of the lawsuit are behaving. They don't seem to be willing to compromise.

An key SEC move was thwarted by Ripple.

A second time, the SEC sought to have William Hinman's remarks thrown out of court last week, but it failed. SEC official Hinman has said that cryptocurrencies are not securities. Cryptocurrencies are not securities, according to the Securities and Exchange Commission (SEC). It's not going to look good for the plaintiff in court if the SEC's own employee contradicts him, because that suggests the plaintiff isn't confident in its own case. As a result, it's easy to see why the SEC would want this data suppressed.

The SEC's second attempt to get the evidence thrown out was unsuccessful. The SEC petitioned the judge to revisit her prior ruling, which the judge had made months earlier. Since she turned down the request, Ripple Labs will be free to present the evidence it desires at trial.

 

Reasons why a deal seems less probable now

According to a recent report, Ripple's huge procedural victory might allow it to negotiate favorable conditions. According to John Deaton's recent remarks, this is not likely to happen. For him, the "best-case scenario" is an August ruling, according to his most recent statement. Ruling suggests there will be a trial by the use of the word. A deal will not be reached if such is the case.

He didn't indicate why a settlement is improbable, but the severe differences between the parties might be a factor. There is a rumor that Ripple's founders are asking the SEC to foot the tab for their legal fees. You wouldn't anticipate that behavior from folks who are eager to settle a dispute for a minor sum. That being said, unless the SEC agreed to completely dismiss this lawsuit, Ripple probably won't accept a "settlement".

The entire bitcoin industry might be in jeopardy.

The SEC vs. Ripple Labs action has significant ramifications for the whole cryptocurrency market, not just XRP investors. The Securities and Exchange Commission (SEC) is pushing for the regulation of cryptocurrencies as securities. Tokens will have to be registered if they are successful. Ethereum and Solana developers, for example, will have to bear a greater share of the financial burden. This situation will be ruled out if Ripple prevails, at least for the time being. Ripple Labs' success would be good news for the crypto market as a whole.

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