The possibility of an agreement between the US Securities and Exchange Commission (SEC) and Ripple appeared to be slim.
The SEC and Ripple said in a letter filed on the 16th (local time) to a federal judge of the Southern District Court of New York, Analisa Torres, that “there is currently no (pre-trial) resolution.”
He added, “During the Trump administration, there was a discussion about the settlement agreement, but the heads of the departments who formed the main body at the time left the SEC.”
The SEC and Ripple agreed to end discovery by August 16th.
In this letter, the SEC said, “Ripple and Chairman Chris Larsen have received a legal memo warning that XRP is at risk of being considered a’investment contract’ and can be considered a security under the Securities Act.” Demanded. However, Ripple declined, saying, “The SEC’s request is inappropriate and lacks legal basis.”
Earlier in December of last year, the SEC sued Ripple for violating the Securities Act on the grounds that XRP is an unregistered securities. The first pretrial conference between the SEC and Ripple is scheduled for February 22nd.
Translation: Jihyun Ham/Coindesk Korea
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