Ripple executive expecting some landmark court rulings as the expert discovery phase concludes and the lawsuit moves towards the trial.
Recently, Ripple CEO Brad Garlinghouse appeared in an interview on finance media outlet Fox Business. Sighting the beginning of trial, Garlinghouse noted that as the lawsuit proceeds further they are expecting some court decision in the near future.
— 🇺🇸🇩🇴XRP $25+ (@Coining203) March 3, 2022
Throughout the proceedings, the lawsuit has gone through many twists and turns. In the earlier days, it seemed obvious that Ripple was under tremendous pressure but later as the lawsuit continued it is the defendant who remains in a relatively stronger position. Ripple got a few very critical procedural successes e.g. deposition of SEC official William Hinmam.
Now, the decisions Ripple’s CEO is eyeing at are of pretty decisive nature. The court is yet to decide on SEC motion to strike out the defendant’s ‘fair notice’ motion. If the decision comes in favour of the SEC, it won’t be that big of a thing in the long term. But, on the contrary, if Ripple emerges as the winner, it would have a very strong impact on the lawsuit. As a consequence the lawsuit could even be completely thrown out by the court.
The other important motion that is still to be decided, is relating to emails containing a draft of the June 2018 speech delivered by William Hinmam. The SEC has asked the court to reconsider the release of the email.
No matter how the case unfolds, it is surely going to have a long lasting effect on the entire crypto market, especially in regards to the crypto regulations in the US. As stated by many analysts previously, a win for the SEC would further strengthen its power to control crypto. Whereas a win for Ripple would, almost forever, contain the SEC.