Ripple SEC Lawsuit May Be Settled by Dec. 15: Cardano Founder

Ripple’s lawsuit against the SEC has been going on for nearly two years now. The lawsuit has seen a series of twists and turns over the years, and speculation is rife that it is nearing a final verdict. Charles Hoskinson, Cardano’s founder and CEO commented Sunday on the Ripple SEC case, saying he “heard rumors” that the “case will be settled on December 15”.

 

Hoskinson revealed in a Surprise AMA on YouTube that unconfirmed reports indicate a final judgment might be read by December 15. However, he warned that the judgment could have “catastrophic implications” for the short term but the DeFi ecosystem would move forward regardless.

 

“I heard rumors that the Ripple case will be settled on December 15. And that could have catastrophic implications for the industry one way or the other,” said Hoskinson.

 

He added, “But you know, you just keep moving forward. Regardless of what happens, it’s a decentralized ecosystem that you guys control. The United States of America doesn’t get to say that Cardano lives or dies; you do, the world. That’s the point of a decentralized ecosystem”.

 

Ripple saw minor wins in the last two months after the court accepted submissions by companies and individuals supporting Ripple.

 

Lawyers made a case accusing the SEC of having a conflict of interest by declaring that Ethereum is not a security. In addition, legal experts have predicted that Ripple has more of a chance to win the lawsuit than the SEC.

 

Nevertheless, it has not been confirmed that the final judgment will come out on December 15, 2022. Also, there is no confirmation that Ripple can prevail in the lawsuit. The law takes its course and we will have to wait and see the official outcome of the case.

 

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