The Ripple vs. SEC lawsuit is moving along nicely, and a few key decisions are expected this week. Legal experts believe that the case’s judgments will clear up any misunderstandings about the nature of particular tokens while also laying the groundwork for future restrictions. The SEC vs. XRP case is exposing potential flaws in the SEC’s probe.
Lawyers related to the regulatory lawsuit say that they are stuck in a situation where they are just waiting for the upcoming judgments. However, some of them believe that the commission has already lost the case and SEC will eventually strike a settlement with Ripple.
The court may make many decisions this week on:
- The SEC’s request for the Hinman emails to be reconsidered
- Estabrook Notes from a 2018 discussion between Garlinghouse and then-SEC Commissioner Roisman were revealed in Garlinghouse’s response.
Review of Hinman emails.
The SEC asked the court to review its previous decision about a clean draft of Bill Hinman’s June 14, 2018 speech. The commission considers that the DPP protects all such documents. The judge, on the other hand, does not agree.
According to the SEC, the court based its conclusion on a single document that the defendants chose to emphasize. The court did not evaluate the remaining 67 emails that contained Hinman’s speech draft.
The SEC wants to reconsider Hinman’s infamous Ether speech as an essential link in the Commission’s deliberative process with respect to Ether.
Estabrook notes are publicized.
The SEC’s opposition to Ripple’s Brad Garlinghouse motion is awaiting a decision. Following the Two Memos, it is being referred to as a distinct piece of evidence in the case.
The SEC has submitted a response to Ripple’s demand for the disclosure of “Estabrook notes.” These are the notes from a meeting between former SEC Commissioner Elad Roisman and Ripple CEO Brad Garlinghouse on Nov. 9, 2018, just before the SEC declared the XRP coin security.
The Notes will determine whether or not Garlinghouse was aware that XRP token transactions were unregistered securities. However, the case’s rulings have so far shown to be a path that leads to determining the nature of various cryptocurrencies.