- Abacus predicts that the SEC may classify XRP as a commodity, altering its regulatory status.
- A reduced fine for Ripple is a possibility, with a 30% chance of a decrease.
- New SEC leadership might take a more cautious approach, benefiting Ripple in the future.
The Ripple vs SEC lawsuit may be approaching its end as reported by Andrew AP Abacus, co-founder of Arch Public. Abacus, citing sources within the Securities and Exchange Commission (SEC), revealed that the case is on the brink of resolution. This revelation has started a range of reactions from legal experts, who are assessing the possible outcomes.
Abacus’ Predictions Draw Attention
In a recent post on X, Abacus claimed that two SEC sources have suggested that the Ripple lawsuit is approaching its conclusion. This statement generated mixed reactions from both the crypto community and legal experts. While some remain hopeful, others are cautious about the predictions, questioning their validity.
Abacus proposed several scenarios for the outcome of the lawsuit. One possibility is that the SEC might classify XRP as a commodity. This would significantly impact the regulatory landscape for the cryptocurrency. Another potential development involves a reduced fine for Ripple, which could influence the case’s resolution.
Currently, the fine stands at $125 million, but there is speculation that this could be lowered. XRP advocacy platform All Things XRP had earlier predicted a 30% chance of a fine reduction. Abacus also pointed that new leadership at the SEC might adopt a more cautious stance. This could benefit Ripple in the long run by setting a more favorable precedent for future cases.
Legal Experts Weigh In
Legal experts have responded with varying degrees of skepticism. John Deaton, a pro-XRP attorney, conveyed surprise with a simple emoji, questioning the validity of Abacus’ sources. Meanwhile, Bill Morgan, another prominent lawyer, offered a balanced reaction.
While he acknowledged the positive aspects of Abacus’ predictions, he emphasized the need to address the injunction, a key issue that could complicate the case. Fred Rispoli, a legal expert, expressed a mix of humor and optimism in his reaction. He admitted to being selective in his belief of Abacus’ predictions, preferring to focus on the positive developments while remaining cautious about negative outcomes.
