Rumors continue to swirl suggesting the two-year legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) may be coming to an end as early as this week, prompting the community to weigh in on the matter.
Speculation about the potential settlement appears to have come from a Dec. 10 ask-me-anything (AMA) with Cardano founder Charles Hoskinson, who said he had heard rumors that the case would be settled on Dec. 15.
In the days since, there’s been plenty of commentary from the community — giving their two cents on what a settlement would mean for Ripple and the wider crypto industry.
In a Dec. 12 Twitter post, pro-crypto United States congressional candidate January Walker opined that an unfavorable settlement from Ripple would be a “loss for the whole world & WEB3,” adding:
“The world follows the actions of the USA, and how the government handles one of us, sets precedence for how they handle all of us,” she said while calling for the industry to “work together.”
The world follows the actions of the USA, and how the government handles one of us, sets precedence for how they handle all of us. Instead of battling against each other claiming one group is better than another we need to work together for the right legislation.
— January Walker (@UtahPolitician) December 12, 2022
David Gokhshtein, the founder of blockchain-focused media company Gokhshtein Media, weighed in as well in a Dec. 10 post commenting: “We need Ripple to win this case and not settle,” which would be a worst-case scenario.
“Worse case scenario is Ripple settles, but I don’t know if they’ll provide clarity for the entire industry,” he added.
During the Dec. 10 AMA, Hoskinson also said that a settlement could have “catastrophic implications for the industry one way or the other.”
“But you know, you just keep moving forward. Regardless of what happens, it’s a decentralized ecosystem that you guys control.”
Hoskinson later reiterated in a Twitter thread that these were only rumors and that he didn’t necessarily believe them to be true.
Meanwhile, crypto attorney Jeremy Hogan, a partner at Hogan & Hogan, says there are several possible outcomes in a Dec. 10 YouTube video, telling his 157,000 subscribers he thinks there is a roughly 50% chance Ripple wins, but a “110.6% chance of something happening shortly.”
The lawyer predicts that if Ripple wins, the most likely reason would be “it had no legal obligation…
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