In a recent development, John Deaton, an acclaimed attorney in the XRP community known for representing token holders in the ongoing lawsuit between Ripple Labs and the US SEC, shared his latest opinion about the delay in public filing of the Hinman documents ordered by the court. Deaton explained via Twitter that if these documents were the basis for any settlements, it would have occurred long before the SEC handed them over to the blockchain payments company. The attorney believes that the market regulator already decided that the Hinman emails and associated documents would be made public eventually.
With his close involvement in the case, Deaton has become a prominent figure within the Ripple community, offering education and guidance as everyone eagerly awaits an end to the legal battle. Both Ripple and the SEC recently submitted a joint request to the court for an extension to the moratorium to turn over the Hinman documents to the public. The reason cited was that the documents in question are voluminous and will require time to sort out.
The SEC initially filed its lawsuit against the blockchain payments firm back in December 2020. Since then, numerous events have transpired, and many community members are now anticipating a Summary Judgement from the presiding Judge, Analisa Torres. While speculations abound as to when this judgement will be delivered, experts have estimated a timeline of anywhere between 6 weeks and 6 months.
The general expectation is that Ripple will emerge largely victorious, and the outcome of the lawsuit will set a precedent for the digital currency ecosystem going forward. Ripple’s CEO has confirmed that by the time the case concludes, the company will have spent $200 million defending itself against the SEC.
However, it is important to remember that the presented content may contain personal opinions of the author. Crypto enthusiasts should always conduct their own market research before investing in cryptocurrencies, as the author or publication holds no responsibility for any personal financial loss. Moreover, with the constant flux of the marketplace, it is crucial for like-minded individuals to stay updated on the latest developments that may have an impact on their investments.
Source: Coingape
