In the lawsuit between the US Securities and Exchange Commission and Ripple, it seems unlikely that a pre-litigation settlement will be reached.
The parties submitted a joint letter to Analisa Torres, US District Court Judge for Southern New York, on Monday.
In the letter, it was stated as follows regarding the possibility of reaching an agreement before the trial:
“The lawyers of the parties met and negotiated. Although the agreement was discussed before, we do not think there is any possibility of agreement this time. However, the parties will immediately inform the court if an agreement is reached on the ground. “
The parties reached an agreement that the discovery process will be completed before 16 August 2021.
The virtual preliminary hearing of the case is scheduled for February 22nd.
In December, the SEC sued Ripple for violating securities laws with the sale of XRP tokens. Following the lawsuit, many exchanges suspended XRP transactions on their platforms.