Representatives of the Securities and Exchange Commission and Ripple did not see an opportunity to settle the dispute before the court during the latest negotiations. They informed about this in a joint letter to Judge Analise Torres serving in the Southern District Court of New York. Until February 15, the parties could have settled the dispute out of court.
“The lawyers of the parties, having previously discussed the settlement, do not believe in the prospect of the settlement at the present time. But the parties will immediately notify the court if a principled settlement is reached,” the letter says.
Earlier, the SEC accused Ripple of unlawfully offering $1.3 billion of unregistered securities under the guise of its tokens (XRP). The regulator filed a lawsuit against the company and its founders. Amid accusations, many crypto exchanges have decided to halt XRP trading. At the end of December last year, the largest Coinbase Exchange held a delisting token. This brought the price down to $0.17. XRP is trading at $0.50 as of late-night on February 17.
