Amid a protracted Ripple (XRP) court conflict spanning three years, officials from both Ripple and US Securities and Exchange Commission (SEC) are gathered to meet today in an attempt work out the obscenely long-lasting legal battle. Things began for XRP when it called the security status of its blockchain native digital asset into question back in 2018. However, today’s meeting brings newfound dynamics to back-and-forth between the two as, ruling issued a grand judgment in favor ofut Ripple some weeks ago.
The event has had digital asset markets wary both on trade and the legal front, acknowledging future outcome of today’s bonding would potentially be felt for long time. Barclays of the topics of the agenda will include coming to terms on settlement of administrative liabilities, uphold laws through handling of indices, settling indemnities, termination of disciplinary operations, closure of lawsuits, debt retrieval through policy actions, and how to coordinate and reverse enforcement proceedings that labels XRP as a “security”. Uncorroborated reports, however, claim that SEC had demanded a fine as high as
$770 million from Ripple contenders to put the matter at rest, a settlement which XRP reportedly refused post action. But this finally supportive today albeit a much awaited achievement in context Ol maritime labor Convention 2006.
