The Ripple Vs SEC lawsuit is ongoing for close to two years right now. The lawsuit took a series of turns over the years and speculations are rife that it’s nearing the final judgment. Cardano founder and CEO Charles Hoskinson commented on the Ripple Vs SEC case on Sunday saying he “heard rumors” that the “case will be settled on December 15”.
Hoskinson revealed in a Surprise AMA on YouTube that unconfirmed reports indicate a final judgment might be read by December 15. However, he warned that the judgment could have “catastrophic implications” for the short term but the DeFi ecosystem would move forward regardless.
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“I heard rumors that the Ripple case will be settled on December 15. And that could have catastrophic implications for the industry one way or the other,” said Hoskinson.
He added, “But you know, you just keep moving forward. Regardless of what happens, it’s a decentralized ecosystem that you guys control. The United States of America doesn’t get to say that Cardano lives or dies; you do, the world. That’s the point of a decentralized ecosystem”.
You can watch Cardano CEO Charles Hoskinson talk about the Ripple Vs SEC lawsuit below:
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Ripple Vs SEC Lawsuit: Crypto Community Buzzing After Minor Wins
Ripple saw minor wins in the last two months after the court accepted submissions by companies and individuals supporting Ripple.
Lawyers made a case accusing the SEC of having a conflict of interest by declaring that Ethereum is not a security. In addition, legal experts have predicted that Ripple has more of a chance to win the lawsuit than the SEC.
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Nonetheless, it is not confirmed that the final judgment will be out on December 15, 2022. Also, it is not confirmed that Ripple could come out victorious in the lawsuit. The law takes its course and we’ll have to wait and watch for an official outcome of the case.