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The protracted legal war between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) can finally come to an end, or so it seems. Though the case may be dismissed, a new proposal from attorney Jeremy Hogan has thrown the crypto space into debate: What if Ripple settled with the SEC in XRP?
The Case for an XRP Settlement
Hogan proposes that Ripple pay the $125 million fine in its own currency, XRP. This would not only legitimize XRP as an asset but could also increase its price by showing real-world application at a governmental level.
To bolster his point, Hogan cited the 1869 Willard case, where the U.S. Supreme Court held that a contract could be paid in gold rather than dollars. This precedent implies that payment in a different asset—like XRP—may be legally enforceable.
Possible Effect on XRP’s Future
If the SEC were to approve the fine on XRP, it could represent a major change in regulatory attitude. It would mean that XRP is not just a security but a valid form of currency or asset. What’s more, a big institutional trade such as this one has the potential to increase market confidence, possibly leading to the price of XRP increasing.
Though the SEC might resist taking such a settlement, for the reason that it would counteract its claim that XRP is a security, the results of this conflict will determine how precedents shall be set with future cryptocurrency lawmaking.
Though it is still unclear if Ripple will do this, the thought is an intriguing situation for the crypto space. If Ripple were to pay the SEC in XRP, it could change the regulatory environment and even the perception of how digital assets are viewed.
Do you think you would favor Ripple paying in XRP? Share your opinions!
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