Both Ripple CEO Brad Garlinghouse and pro-XRP attorney Jeremy Hogan have confirmed that the SEC lawsuit could end within ‘weeks’.
Ripple lawsuit enters critical phase
The legal battle between the SEC and Ripple has been contentious for nearly 2.5 years. In the latest developments, the court rejected the SEC’s request to seal the Hinman Papers. This document contains what William Hinman, a former SEC executive, said about Ethereum in 2018. Hinman made statements on this date that ETH is not a security.
On May 19, the court allowed the Hinman Papers not to be sealed but to be used as evidence in the case. Shortly after that, Ripple CEO Brad Garlinghouse said that the lawsuit could end in weeks, not months. Speaking at the ReDEFiNe Tomorrow 2023 conference, he said, “I am sure we will see a decision from the court this year. In fact, I guess this will end in weeks, not months.”
Decision could be made in July
However, another prominent name, pro-XRP attorney Jeremy Hogan also expressed the same expectation. Hogan says that the judge in the Ripple case makes important decisions about every 9 weeks. Therefore, he predicts that the final decision will come out in mid-July.
Hogan also stated that this is not a guess. Rather, he stated that it was a pattern that emerged throughout the process. He also explained that the outcome of the case showed that it could be decided in the coming weeks.
Ripple lawsuit approaches its climax
If Hogan’s analysis is correct, the final verdict in the case will come out very soon. However, it should be noted that the judge’s decisions will be based on the merits of the case, not on a specific date. Whatever the outcome, it will have one of the biggest impacts on the cryptocurrency market in recent times.
Hinman Documents strengthens Ripple’s hand
In the ongoing legal battle, a recent ruling by Judge Sarah Netburn granted Ripple access to documents related to a speech given by former SEC official William Hinman.
According to Crypto Law founder John Deaton, the SEC initially argued that the speech did not guide the market, despite statements to the contrary by senior SEC officials at the time. The SEC later compelled Hinman to say that the speech was solely his opinion. It also required Ripple to sign an affidavit stating that there was no guidance to undermine its lack of fair warning defense.
However, Judge Netburn ruled that unlike the SEC, it was not within the privilege of speaking and negotiating process. The judge also urged SEC attorneys for their “hypocrisy” and lack of adherence to the law. Following the positive developments, XRP became the prominent cryptocurrency of the past weeks. cryptocoin.comAs you follow, its popularity has also reached the Asian market.
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