XRP Lawsuit News: Is Ripple CEO Meeting Trump? What to Know Before June 16

The post XRP Lawsuit News: Is Ripple CEO Meeting Trump? What to Know Before June 16 appeared first on Coinpedia Fintech News

The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) might finally be reaching an important turning point.

Since December 2020, Ripple has been fighting allegations from the SEC, which claimed the company sold unregistered securities in the form of XRP tokens. While Ripple secured a big win last year when a court ruled that XRP itself is not a security, the legal process has continued with penalty negotiations and procedural delays.

The ‘Ripple’ Test

Now, crypto lawyer John Deaton has shared an important update: a new U.S. market structure bill is expected to be passed in August. This bill would clearly define what qualifies as a digital security and what counts as a digital commodity. If passed, XRP would fall under the category of a digital commodity — removing regulatory uncertainty and officially ending the SEC’s authority over the token.

Deaton even called it a “Ripple Test,” replacing the decades-old Howey Test used to judge securities. Once this bill is signed into law by Congress and the U.S. president, it would set clear rules for the entire crypto market.

June 16: Make or Break?

Apart from this, June 16 is a key deadline in Ripple’s case. A previous joint request from the SEC and Ripple to reduce a $125 million penalty to $50 million was denied by Judge Analisa Torres, as it was filed under the wrong legal rule. Both sides have yet to resubmit a corrected motion, and if they miss the June 16 deadline, the case could move forward to the appeals court, delaying resolution by months.

Trump-Garlinghouse Reunion?

Despite the legal back-and-forth, Ripple CEO Brad Garlinghouse remains confident. Speaking recently, he said Ripple now holds the advantage in the case and the SEC has dropped its main appeal against XRP’s status as a security.

A post on X by TheXRPGuy claims that Garlinghouse is set to meet with Donald Trump. This has not been confirmed by official sources yet. However, it’s possible, as the two already met earlier this year. The last time news of a Garlinghouse-Trump meeting went viral in November, XRP spiked quickly and the market reacted strongly. Now, with similar rumors spreading again, XRP could rally if the meeting is confirmed.