The former Binance U.S. CEO and previous Acting Comptroller of the Currency Brian Brooks stated that Ripple and SEC will settle to enable investors to continue trading & holding XRP.
The former Binance U.S. CEO and previous Acting Comptroller of the Currency Brian Brooks recently stated that Ripple and SEC will settle to enable investors to continue trading & holding XRP. He noted:
Here, the most important issue about the XRP is that there is a difference between the way the asset is distributed and the nature of the asset at a given moment and time. And I think the issue is that whatever happened at the original distribution of the XRP tokens ten years ago, whether that was or was not a security, that is what the courts will decide. The question is whether XRP today is secure?; the answer is that the SEC itself has said that assets can change their nature with time as they achieve utility and decentralization.
I will just make a quick prediction that there is a settlement that will be done somewhere. The settlement has to do with the distribution of the tokens so that existing token holders can continue to trade them and find value in them in ways that they do.
Previously Fred Rispoli commented that the SEC has filed a letter requesting to seal portions of the parties’ oppositions. Also Jeremy Hogan commented that the Ripple Defendants have filed a letter proposing narrowly-tailored redactions.