The Ripple vs SEC case is developing at a good pace and few key rulings are expected this week. Legal experts believe that the rulings of this case will eventually clear up the misunderstanding about the nature of certain tokens, while laying a foundation for future regulations. The SEC versus XRP case exposes potential loopholes in the SEC’s investigation.
Lawyers involved in the legal trial say they are stuck in a situation where they await the upcoming rulings. However, some of them believe that the committee has already lost the case and that SEC will eventually settle with Ripple.
This week, the court may see multiple decisions about:
SEC’s request to reconsider the Hinman emails Garlinghouse’s response disclosing Estabrook Notes from a 2018 meeting between himself and then SEC Commissioner Roisman
Rethinking Hinman’s Emails
SEC asked the court to reconsider its previous ruling regarding a clean draft of a June 14, 2018 speech by Bill Hinman. The committee believes that all these documents are protected by the DPP. The judge believes not.
What the SEC believes is that the court made its decision on a single document that the defendants highlighted. While the court did not consider the other 67 emails in the design of Hinman’s speech.
The SEC wants to reconsider Hinman’s infamous Ether speech as a vital link in the Commission’s deliberation process regarding Ether.
Disclosure of Estabrook Notes
A ruling on Ripple’s Brad Garlinghouse motion to the SEC opposition is a long-awaited ruling. It is mentioned as a specific piece of evidence in the case after the Two Memos.
SEC has objected to Ripple’s motion to demand disclosure of “Estabrook Notes”. These are the notes from the meeting between former SEC commissioner Elad Roisman and the CEO of Ripple that took place on November 9, 2018, before the committee claimed the XRP token is a security.
The Notes will decide whether Garlinghouse knew that the sale of XRP tokens were unregistered securities or not. However, rulings in the case so far have proven to be a path leading to determining the nature of many cryptocurrencies.
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About the author
Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he plays video games, watches a thriller or participates in outdoor sports. Reach me on Ash[email protected]
This post Crucial verdicts expected in Ripple lawsuit this week?
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