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Also Read: Terra Luna Classic Top Validators Support Crucial Dynamic Minimum Commission Proposal advertisement John Deaton Explains Potential Settlement Terms Responding to a question on what could come between the two parties and a settlement, attorney Deaton said the ongoing Coinbase Vs SEC lawsuit could be crucial to the prospect of Ripple settlement. This is because if the judge in the Coinbase case grants the exchange a motion to dismiss, it would mean that token sales on the exchange does not fall under U.S. securities laws, while the crypto staking part continues to be a part of the litigation. He explained, “The only way Ripple and the SEC (could) settle before the end of the year is if Judge Failla grants the Coinbase motion to dismiss or partially grants it – finding token sales on an exchange in a blind bid/ask transaction do not fall under U.S. securities laws” If the motion to dismiss is granted, the SEC would find it tough ...

Also Read: US CPI Data Release: How Will Bitcoin Price React? advertisement Lawyers on both sides of the XRP Vs SEC lawsuit had a busy day on August 9, 2023, with two filings, one each from the agency and the Judge. The onus is now on how Ripple reacts to these developments. Ripple Filing Response Next Week Stuart Alderoty, the Chief Legal Officer at Ripple, clarified on the rights the agency have in terms of appealing the Summary Judgment. He said the agency is only seeking the court’s permission to file an appeal. In response, Ripple will file a letter to the court next week, Alderoty said. Importantly, the US SEC is not seeking to appeal against the decision of XRP being a security, it is rather on its losses on the programmatic and individual sale of the token. “The SEC does not have the “right” to appeal just yet which is why they are asking permission to file an “interlocutory” appeal. Ripple will file its resp...