Ripple SEC Lawsuit Settlement Ahead With Hinman Docs Delay?

Crypto Market News: The XRP community is wondering whether the one week extension for filing unredacted versions of cross motions including the Bill Hinman emails is related to a larger plan as part of the Ripple Vs SEC lawsuit. Earlier on Friday, Ripple and the SEC filed a Joint Letter for one week extension to file the documents citing the voluminous nature of the materials. The Court’s recent order denying the SEC’s request to seal the Hinman documents itself sparked a debate in crypto market on whether this development could prepone the Summary Judgement.

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Settlement Possibility

In the joint letter to Judge Analisa Torres, the two parties sought to file the documents by June 13, 2023. However, John Deaton, the attorney representing over 70,000 XRP token holders in the lawsuit, said there was no truth to rumors that the SEC was going to settle with the company. He said the SEC, under Chair Gary Gensler, is moving forward full steam in the fight against crypto businesses. Overall, Deaton ruled out the possibility of settlement.

“A lot of comments about whether this delay is for settlement discussions. If the Hinman emails were going to lead to a settlement it would’ve been before they turned them over to Ripple.”

Meanwhile, another US attorney, said the Summary Judgement could come any time, meaning the decision could be preponed due to the Hinman emails order. US attorney Fred Rispoli said the Summary Judgement could almost be ready to go if not 100% ready. He believes that the Summary Judgement ruling is already written, and hence could be delivered anytime. Overall, given the current crypto market conditions and the United States regulatory scrutiny, it makes a very interesting time for the XRP lawsuit Summary Judgement to come until the end of 2023.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at anvesh@coingape.com.

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