Ripple Trial Nears Finale as SEC Clash Turns Technical
The lawsuit between Ripple and the Securities and Exchange Commission is now in its most technical phase yet. Legal experts think that the outcome could have a big impact on how cryptocurrencies are regulated in the US in the future. Bill Morgan, a lawyer for XRP, recently posted ten important updates on social media. He looked at what both sides are doing and why Ripple is still in a strong position even though regulators are putting pressure on it.
Morgan starts by saying that Ripple has made a big admission: it won’t be bringing in any new expert witnesses at this time. This makes the focus only on civil penalties, which Ripple says shouldn’t be more than $10 million. On the other hand, the SEC wants to fine them almost two billion dollars. The judge now has to choose the right punishment for Ripple, which is said to have sold XRP to institutional investors in violation of securities laws.
Morgan says that Ripple’s choice not to challenge the facts of the case early on shows that they are confident in their strategy. The company doesn’t want to keep arguing; they want to get to a final judgment quickly so they can appeal the whole thing if they need to. He says that the company is more interested in getting a fair punishment than going back to court over old issues.
The main point of the final arguments is the penalty justification
Ripple’s claim that the SEC didn’t show any “reckless disregard for the law” is another important update. This makes it less likely that a big fine will be given, especially since the court already said in 2023 that XRP programmatic sales were not securities. This small legal detail could be very important in figuring out how much Ripple will have to pay in the end and whether that punishment will hurt its business in the future.
Morgan also says that both sides are getting closer to the end game. The SEC has already sent in its reply brief. Ripple’s team should respond soon with any last motions. In the next few months, Judge Analisa Torres will probably decide on the final remedy.
This case could set a precedent because the crypto industry is watching closely. If Ripple can keep the fine low and not get any more injunctions, it might give other blockchain companies the courage to question the SEC’s power.
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