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Ripple is now looking more confident in the ongoing SEC lawsuit. Authoritative observers of the case and the wider public believe that everything is going in the company’s favor.
The optimism is well founded. By all accounts, the defendants have cornered the SEC over its own controversy, especially when it comes to the debate over former SEC member William Hinman’s 2018 ether speech.
SEC WILL NOT GET THE DESIRED RESULT
FoxBusiness journalist Eleanor Terrett drew attention to the fact that even SEC employees are not sure that they will win the case against Ripple.
«A source close to the SEC told me that Hester Pierce has privately expressed an opinion that the SEC will not get the result it wants.», — said she .
SEC Commissioner Hester Pierce has repeatedly expressed concern about the SEC’s approach to digital assets, criticizing the process against BlockFi, and stating that the existence of cryptocurrencies in the US is now under threat.
Hester Pierce, also known as “Cryptom Mom”, has been calling for regulatory clarity in the crypto space for years and has expressed her bewilderment at the agency’s lack of effort.
THE FOLLOWING JUDGMENT WILL BE DECISIVE
Possibly due to a lack of clarity, Pierce believes that the SEC will not be able to achieve the expected result regarding Ripple Labs and individual defendants, Brad Garlinghouse and Chris Larsen.
In this case, Ripple’s fourth positive defense, also known as the fair notice defense, would be critical to the claim that the SEC failed to provide adequate clarity on the matter. It will also set a precedent for other crypto businesses that the SEC may look into in the future.
Judge Sarah Netburn will soon rule on the Securities and Exchange Commission’s motion to review her previous decision on deliberative privilege. It is expected that she will rule against the plaintiff, and this decision is likely to become a key factor in the upcoming settlement or outright victory.
Talks of a settlement have already begun and it could happen between April and May. according to court schedule. The meetings will be mediated by Judge Netburn, who has reviewed all confidential documents. Also, the lawyers following the case believe that that the lawsuit against XRP will be completed by November 18.
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