The SEC’s lawsuit against Ripple has been ongoing since December 2020. The SEC’s constant delays have worried many in the community. Meanwhile, many predict the lawsuit to be completed by March 2023.
In a recent Tweet, Jeremy Hogan, a partner at the law firm Hogan & Hogan, said he believes the ruling on the Hinman emails will be made this week. He thinks so, because motions are due to be filed next Tuesday to beat expert witnesses, which could speed up the court’s decision.
In addition, Hogan said he is looking forward to Ripple’s motion to defeat Patrick Doody’s report. Doody’s report explained why XRP holders bought the asset in the first place.
Hinman’s Speech Key to Ripple’s Defense?
The Ripple defense team focuses on a speech by William Hinman in 2018. Hinman is the former director of the SEC division of Corporation Finance. The speech was delivered at the Yahoo Markets Summit. In the speech, Hinman said that Ethereum (ETH) magically changed from a security to a non-security. This was a huge leap forward, as at the time there were no clear guidelines from the SEC on how they would classify digital assets.
The SEC has made several attempts to barricade the concepts of Hinman’s speech. However, the court rejected their intentional process privilege (DPP) argument. The agency is now trying to convince the court that attorney-client privilege protects the documents.
Hinman’s speech is central to the SEC Ripple lawsuit. The ruling on this matter will certainly bring some clarity to the matter.
In addition, attorney James K Filan… revealed that Ripple has hired two additional lawyers. The latest additions are Kylie Chiseul Kim and Clayton J. Masterman of law firm Kellogg Hensen.
Filan also had a updated schedule with important dates regarding the SEC-Ripple lawsuit.