The Ripple-SEC lawsuit seems to be dragging on forever as the SEC emails dispute is in for further filings this Friday.
The SEC’s decision to move forward with the attorney-client privilege assertion and redact the speech documents is due on April 29, Friday.
The Securities Exchange Commission had addressed the court that it was in discussions to file new privilege assertions. This initiative is a last resort effort to prevent the production of emails associated with William Hinman, the former SEC’s division of corporate finance, and his infamous Ethereum speech.
William Hinman and his ethereum speech
The ex SEC Director of Corporation Finance said in his infamous speech about ethereum in 2018 that ethereum was not a security. Ripple also demanded that the 70 emails that were internally distributed in the agency should be disclosed in its lawsuit.
The SEC tried to its maximum efforts to keep the emails private. But it backfired as SEC faced criticism from the court and was asked to pay the expenses of the defendant and also the re-deposing cost of the expert witness.
Ripple faced a lot of negativity and backlash from the crypto community. It was accused of targeting bitcoin and ethereum and for blaming the SEC for picking “winners and losers.” But the XRP community believes that the SEC was unfair and created an uneven playing field for other projects.
As per the latest weekend, Stuart Alderoty, Ripple’s general counsel, claimed that the team is trying to push the case fast forward to settle it as soon as possible. But the latest evidence state that the settlement will most likely be in 2023.
‘To all that have been following the case thus far – thank you. Know that Ripple is pushing hard (and the Court is working hard) to resolve the case as soon as possible, despite the SEC time and again doing everything they can to delay.”
Stuart Alderoty