Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have released a status report on the odds they will reach a settlement as a pre-trial conference approaches.
In a joint letter, the SEC and Ripple say that they appear unlikely to settle the lawsuit anytime soon. The SEC alleges Ripple sold XRP as an unregistered security for years.
“Counsel for the parties have met and conferred and, having previously discussed settlement, do not believe there is a prospect for settlement at this time. However, the parties will promptly notify the Court if any settlement in principle is reached.”
Ripple also notes that previous settlement talks were with members of the SEC who have since departed.
“Defendants agree with the statement, but note that previous settlement discussions took place under a previous administration and were principally with relevant division directors who have since left the SEC.”
Earlier this year, about two weeks after the SEC filed the lawsuit,