The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has been making waves in the cryptocurrency world. Recently, there have been renewed rumors surrounding a possible settlement between the two parties. This speculation gained traction as Ripple and the SEC agreed to delay the release of the deposition of William Hinman, the former SEC official who allegedly stated that Ethereum was not a security. As the crypto community eagerly awaits further updates, let’s take a closer look at the latest developments in the Ripple/SEC saga.
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Renewed Settlement Rumors Between Ripple/SEC as Both Agree to Delay Hinman Doc. Release
The ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC) is a topic of much discussion in the crypto world. Many crypto enthusiasts are eagerly waiting for updates on the SEC vs Ripple case, which involves allegations of the sale of unregistered securities. Recently, there has been renewed speculation about a possible settlement between the two parties. Here, we take a closer look at the latest developments and what it could mean for Ripple and its investors.
The Delay in Revealing Hinman Documents
There is a slight delay in revealing all Hinman documents due to a joint request by SEC and Ripple for an extension on the deadline. The joint request was filed by both parties to make the due date to file public redacted versions of the summary judgment materials and accompanying exhibits to be moved by one week from June 6, 2023, to June 13, 2023.
Ripple’s Willingness to Sign
Ripple was willing to sign on to the request for the extension. This could be construed as a sign that Ripple is open to a settlement. However, it is important to note that there could be other reasons for Ripple’s decision to agree to the delay in revealing the Hinman documents.
Potential redactions are narrow due to rules set by Judge Torres in the SEC vs Ripple case. This suggests that the public may soon get access to more information about the nature of the relationship between Ripple, XRP, and the SEC.
Attorney Fred Raspoli’s Question
Attorney Fred Raspoli has a question for Attorney Mark Fagel on how last-minute settlements happen procedurally at the SEC. Such questions point to the possibility that a settlement may be in the offing, and insiders believe that negotiations are ongoing.
Attorney Mark Fagel’s Response
Attorney Mark Fagel, however, thinks that speculations on settlements are pure speculation and do not have a legal basis. He contends that the case is still in the discovery phase, and both parties are still exchanging information.
Getting a Recommendation Heard
There are ways to get a recommendation heard by the commissioners if there is a looming deadline. This could provide a way for Ripple to get a favorable ruling from the commissioners without having to go through lengthy legal proceedings.
Despite speculation about a possible settlement, neither Ripple nor the SEC have made any official statements on the matter. While Ripple’s decision to agree to the delay in revealing the Hinman documents could be seen as a sign of a willingness to settle, it is important to note that there could be other reasons for the decision. It remains to be seen how the case will play out in the coming months.
- What is the SEC vs Ripple case all about?
Ans: The case involves allegations of the sale of unregistered securities.
- Is there a possibility of a settlement between Ripple and the SEC?
Ans: There is renewed speculation about a possible settlement, but neither party has made any official statement yet.
- What led to the delay in revealing the Hinman documents?
Ans: The delay was due to a joint request by SEC and Ripple for an extension on the deadline.
- Are there ways to get a recommendation heard by the commissioners in case of a looming deadline?
Ans: Yes, there are ways to get a recommendation heard by the commissioners in such situations.
- When is the new deadline for filing public redacted versions of the summary judgment materials and accompanying exhibits?
Ans: The new deadline is June 13, 2023.