The lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is a significant legal case that has garnered a lot of attention in the cryptocurrency industry. At the heart of the lawsuit is the question of whether or not the cryptocurrency XRP, which was created and is sold by Ripple Labs, is a security subject to the SEC’s regulatory authority.
The XRP community is currently anticipating the ruling date as both parties have filed their final submissions. Here’s the most recent update on the case.
The XRP community is in support of a settlement.
Pro-XRP lawyer John Deaton commissioned a poll in advance of the decision asking the XRP community to share potential outcomes in the case. A majority, at 59.2%, thought the case would be settled between the two parties in the December 28 poll that received roughly 18,000 votes, while 40.8% chose the verdict option.
Will Gary Gensler Resign?
In a recent tweet, cryptocurrency enthusiast and content creator Ben Armstrong prophesied that 2023 will be the year the XRP lawsuit concludes and Gary Gensler, the head of the United States Securities and Exchange Commission (SEC), resigns.
Source: https://coinpedia.org/news/popular-youtuber-bitboy-crypto-predicts-outcome-of-ripple-vs-sec-lawsuit/