- The SEC is planning to have a secret meeting next Thursday.
- The meeting’s agenda includes the settlement of injunctive actions.
- The crypto community expects the SEC to finalize its case against Ripple.
The U.S. SEC has reportedly scheduled a closed-door meeting for next Thursday, July 18, fueling speculation that the regulatory agency may be nearing a resolution in its protracted legal battle with Ripple Labs.
While the official agenda remains undisclosed, sources suggest the meeting could address the Ripple lawsuit and potential settlement options.
An internal circular circulating on Crypto Twitter indicates that attendees will include commissioners, their counsel, the secretary to the commission, and recording secretaries. Select staff members interested in the slated topics are also invited.
The circular outlines the meeting’s agenda, encompassing the institution and settlement of injunctive actions, administrative proceedings, litigation claims, and other matters related to examinations and enforcement proceedings. While the notification does not explicitly mention Ripple’s case, many in the crypto community speculate it will be a focal point, given its prominence and the SEC’s involvement in multiple legal actions.
Ripple and the SEC have been engaged in a protracted legal battle that has spanned several years and stages. Many in the crypto community believe the case has hindered the development of XRP, the cryptocurrency used by Ripple for payments. They anticipate that a resolution could spark a recovery for XRP after years of downward pressure.
Meanwhile, XRP rallied impressively the past week, gaining over 27% since Monday, July 8. The cryptocurrency rebounded from a local low of $0.40352 and is currently trading at $0.51000, according to data from TradingView.As the crypto community eagerly awaits further developments, the outcome of the SEC’s closed-door meeting could have far-reaching implications for both Ripple and the broader cryptocurrency landscape, especially in light of recent celebrations marking the one-year anniversary of the Ripple lawsuit.
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