The Ripple vs. SEC case is progressing quite rapidly, and a number of important decisions are expected to be made this week. A ruling, in this case, may clear up any misunderstandings regarding certain tokens and lay a foundation for future regulation, according to legal experts. In the SEC vs. XRP case, possible loopholes in the SEC’s investigation have been exposed.
“A number of attorneys associated with the regulatory lawsuit have said that they are still waiting for judgments to be handed down. The commission may be losing the case already; some believe that a settlement will be reached with Ripple soon.”
This week, multiple decisions might be experienced by the court on:
- Reconsideration request for Hinman emails from the SEC
- During a meeting between Garlinghouse and then-SEC Commissioner Roisman in 2018, Garlinghouse disclosed Estabrook Notes
Reconsideration of the Hinman emails
A clean draft of a speech by Bill Hinman delivered on June 14, 2018, was requested by the SEC for consideration by the court. The commission believed that DPP protects all such documents. However, it seems that the judge was not satisfied with this statement.
According to SEC, the court did not consider more than one document, which the defendants highlighted. Hinman’s other 67 emails, including his draft speech, weren’t considered by the court.
“Hinman’s infamous Ether speech should be reconsidered as a crucial component of the SEC’s deliberative process concerning Ether, according to the SEC.”
Disclosure of Estabrook notes
The outcome of Ripple’s Brad Garlinghouse motion to disallow the SEC’s opposition is eagerly anticipated. The two memos, which went before it, are being referred to as a particular piece of evidence in the case.
As part of its opposition to Ripple’s request to disclose its “Estabrook notes,” the SEC formally filed a letter. In the below notes, Elad Roisman, former SEC commissioner at the time, and the Ripple CEO discuss the commission’s allegations that the XRP token is a security. The meeting was held on Nov. 9, 2018, before the inquiry. Garlinghouse will be required to explain whether it knew that the sale of XRP tokens was unregistered. Although the ruling, in this case, has proved to be a path that can lead to the determination of many cryptocurrencies, these rulings have come to determine the nature of many of them.