There have been recent developments in the legal confrontation between Ripple and the US Securities and Exchange Commission (SEC) that highlight the likelihood of a protracted and hard-fought battle. Ripple’s President, Monica Lang, has indicated that the company is determined to see the case “all the way through” rather than settling with the Commission, despite talks of a potential resolution.

In a recent interview with CNBC, Lang revealed that Ripple plans to fight the SEC’s lawsuit until the end. She emphasized that Judge Analisa Torres’ ruling has bolstered the company’s resolve by affirming that XRP is not a security. Lang believes that this ruling has not only provided clarity but also opened doors for Ripple to expand its business globally, beyond the United States.

The SEC initially sued Ripple in December 2020, alleging that the company and its executives violated securities laws by selling XRP tokens without registering them as securities. Instead of opting for a settlement, Ripple has chosen to confront the Commission in court, seeking to refute the accusations.

A significant breakthrough came for the crypto firm in July of this year when Judge Analisa Torres issued a summary judgment in favor of Ripple. The ruling stated that XRP is not a security and that the company’s sales and distributions did not constitute investment contracts. This favorable outcome explains why Lang and Ripple are determined to persist, as the odds appear to be in their favor following the court’s decision. While the SEC intends to appeal this ruling, experts suggest that the Commission is likely to face difficulties if the court grants the interlocutory appeal.

A potential victory against the SEC could also help Ripple restore investor confidence in the company. David Schwartz, Ripple’s CTO, previously acknowledged that the SEC’s lawsuit had resulted in significant losses in important deals for the company. Thus, Ripple aims to leverage a successful outcome to demonstrate its commitment to regulatory compliance and rebuild trust within the crypto community.

However, it is apparent that this legal battle between Ripple and the SEC will be both lengthy and arduous. The case, already approaching three years, shows no signs of conclusion and is poised to extend even further. Judge Analisa Torres had scheduled a jury trial for the second quarter of 2024 before the SEC’s motion for an interlocutory appeal. This means that Ripple’s legal fight could persist until the end of 2024 and potentially beyond, should further appeals be necessary.

Should the court grant the SEC’s request for an interlocutory appeal, Ripple and the Commission will face yet another courtroom battle before the jury trial even begins. The determination displayed by both parties indicates that the legal showdown will indeed be a long and protracted one.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.